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Your Local Property Market Brief – Summer 2021 Edition

Our local property briefing is designed to ensure you make the right and most informed decision when it comes to putting your house on the market.

In this edition, we give you that much-needed insight into the factors shaping the local market, values, and our clients views on our approach.

Factors shaping the market

The housing market has been at the forefront of media attention, with data showing that it has been one of the best-performing sectors of the economy.  Buoyed by the extension of the Stamp Duty Holiday and the Government’s commitment to making the property ladder more accessible with the introduction of the 95% LTV mortgages, there is little sign of demand slowing down.

Our branches continue to be busy with demand now far exceeding supply with 2,098 registered buyers versus 143 properties currently available to purchase.  The majority of enquiries we receive are from people looking for a home that provides them with a healthier lifestyle, access to greener spaces or just to be closer to family.

As a seller you really do hold the winning hand, so what is stopping you?

Our advice:

Be brave: Deciding to move is a busy and exciting time with plenty to think about; we are committed to making the experience of selling your property as enjoyable and smooth as possible by providing all the help and support you need. As Chartered Surveyors and Estate Agents, we bring energy, integrity, and expertise adding value to your experience every step of the way and have built our reputation on this foundation.  Our blog is designed to help you through the process and answer the key questions you may have.

It is your choice: There is certainly no shortage of purchasers, and we are now seeing an additional 7 viewings per property, meaning you can choose the right buyer for you.  Our dedicated Sales Progression team achieved over 98% of the asking price on all offers made in the first quarter of 2021.

Is the price, right? Given the demand in the market, you may feel tempted to take the first or highest offer that comes your way.  But is that really the right option for you?  Our property experts will take the time to help and advise you accordingly, you can also read our ‘Top Tips to get the Best Price for your House’ blog.

To hear more about key factors and the thoughts of our property experts listen to our latest podcast.

Our predications

As Abraham Lincoln said, “the best way to predict the future is to create it”, and whilst our crystal balls may need dusting off, we do know that the best way to ensure that demand is met is by having the confidence to come to the market in the first place.  As a seller, you can create the future, put into practice those plans that were put on hold in 2020.

What we do know is:

  • Multiple bidding is now commonplace across the market.
  • The phased reduction of the Stamp Duty has not prevented people from buying
  • Over the past 3 months, a significant proportion of new listings has had their sale agreed within the first 3 weeks of being on the market.
  • Over two-thirds of sales agreed achieved the asking price or above.

Don’t just take our word for it

It is not just a select group of rugby players from across the British Isles feeling the pride this summer but plenty of happy clients who have sold through GSC Grays too.

Get that winning feeling too by taking advantage of the current market and contacting a member of our team to book your complimentary market appraisal.

We’re here for you

With multiple branches across the North of England, our regional teams have an unrivalled knowledge of the local town and country market, together with experience in selling and letting a wide selection of properties from cottages and townhouses through to country homes and farms.

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