House Price Summer Stand Still.
13th August 2018
13th August 2018
As the leading estate agent in Beaconsfield and the surrounding areas we have a good picture of the housing market in our locale. We like to share this information with our readers and clients as much as possible. We often speak about how lucky we are in this area to be, somewhat sheltered from what’s going on in the wider market across the UK.
Beaconsfield is an extremely desirable location with a huge variety of property to suit all budgets and circumstances – as a result the local market rarely pauses to take a breath. Whether you are looking for a modern apartment, spacious semi-detached property or a detached mansion with acres of grounds the chances are, Beaconsfield and the surrounding areas will have the perfect property for you.
Now, during the summer months the market across the UK tends to slow down. This is mainly due to school holidays and hot weather. Often people wait until September to start their house hunt in the hope that they will be in their new homes in time for Christmas.
Across the country the property market has experienced the usual summer slowdown but this year it seems as though the market has ground to a halt with house prices dropping a little by just 0.1%. Along with this, the number of properties coming to market has increased on average by 8.6% compared to July last year (2017), however, for the first time in a number of years there has been no corresponding increase in potential buyers – this is resulting in vendors having to price their properties competitively.
In a national market experiencing such a situation we are likely to see August and September as strong months for buyers, with pricing dipping in order to make properties more attractive. With so many properties hitting the market, sellers in over-supplied areas will also need to ensure that their properties are presented and promoted immaculately in order to attract the right buyers.
According to the RightMove House Price Index, many sellers have been reducing their prices at the highest rate since the summer of 2011 which might suggest an initial overpricing of their property during the late spring/early summer periods.
We have seen a number of new properties coming to market recently, however, as we mentioned before, with Beaconsfield and the surrounding areas being such desirable locations we have a number of potential buyers looking to move quickly.
So, if you are looking to buy, sell or rent a property in the Beaconsfield area, make sure you get in touch with us to discuss your options. Our team is always happy to advise on the state of the local market so give us a call on 01494 680018 or get in touch via our website. You can also follow us on Facebook, Twitter, Instagram and LinkedIn for all the latest news and updates.
photo credit: By Bellchalerm