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September Market Comment

“So, folks as we move from a scorchio summer to a cooler autumn, will the property market return to normal?”  What’s normal?  Definitely, there will be an increase in the number of transactions over last year and that’s not bad considering increased political uncertainty and two interest rate hikes.

Transaction volumes are currently the most reliable indicator of the state of the property market, not prices, and at Lock & key we are reporting strong transactional volumes, far greater than all the other agents in SN12.

Certainly, we expect to see more activity in the first-time buyer sector, for two reasons: firstly, I am witnessing more buy-to-let properties are being sold by landlords each month, resulting in the first decline in rental property availability for 18 years.

I can see confidence levels are improving once again, as many people start to think about moving by Christmas. If this is you, then you’d better get your skates on as, according to Rightmove, the average time from agreeing a sale to completion is 13 weeks, and it typically takes an average of eight weeks to find a buyer (our average time to sell time is much faster than this in most cases).

As ever, correct pricing is the key, especially as there is likely to be more stock available than there was a month ago. Rightmove reports that average asking prices of new-to-market properties have seen a seasonal reduction over the last month, and we know late summer sellers will seek to find a buyer quickly, so my advice, again is to get it right at the start, it really pays dividends.

If a move is on the cards give us a call on 01225 707342 in confidence and we will get you moving.

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