It is perfectly understandable many homeowners are keen to sell their house as quickly as possible.
At Stones Residential, we are on hand to assist Belsize Park homeowners in the local housing market. We have a track record which connects these homeowners with willing buyers. We are pleased to say we have helped many homeowners sell their house with a minimum of fuss, time and effort.
Homes are selling quickly these days
In February 2022, 61% of properties were sold subject to contract in the first 30 days. In February 2021, only 43% of properties were sold in this manner. This is according to OnTheMarket, a property portal in the United Kingdom.
Jason Tebb, chief executive officer of OnTheMarket, said: “This faster-paced market doesn't offer much opportunity for taking your time to come to a decision. With competition for available stock strong, buyers who aren't organised and prepared to be decisive face missing out.”
The UK region where property moved quickest was Scotland, with 75% of homes being sold subject to contract within 30 days of initially being listed for sale. The UK region where the least property sold within 30 days was Greater London, with 48% of homes being sold subject to contract. London also saw 22% of properties taking 120 days or longer to sell.
We appreciate there are challenges in selling in the London housing market, especially the prime market. However, we have a great track record in this area, and we are fully committed to assisting you as best we can.
Confidence remains strong for buyers
OnTheMarket also spoke with property buyers about how they feel about buying a home. The double-impact of rising mortgage rates and the cost of living becoming more expensive, could affect buyers. However, findings suggest there is still confidence amongst property buyers.
- 75% of property buyers were confident of buying a home within three months
- 82% of vendors were confident of selling their house within three months
There is heightened demand for property in the housing market. This is not a new phenomenon but information provided by the latest RICS Residential Market Survey suggests more new buyers are coming to the market.
Positively, the most recent report also suggests there has been an increase in the number of homes listed for sale.
Simon Rubinsohn, RICs chief economist, said: “Huge clouds of uncertainty hang over the economic prospects as energy prices continue to surge and the Bank of England grapples with how to manage monetary policy in this challenging environment. Despite all of this, there is little evidence yet that the mood music regarding the expectations for house prices or rents is shifting. It may well be that these trends ease as the deteriorating macro environment begins to bite, but the message that keeps recurring, both for sales and lettings, is there are in aggregate many more prospective purchasers and renters than properties available.”
Contact Stones Residential for all your Belsize Park property needs in 2022
If you would like to arrange an appointment to help you negotiate the local housing market, please contact Stones Residential today by calling us on 020 7483 0685 or emailing belsizepark@stonesresidential.co.uk.
