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Autumn Market Comment

Autumn Market Comment

Date Posted: 25/09/18

Well, the local property market seems to be starting its Autumn flurry! With more properties coming to the market, this is very encouraging for buyers who have been short of choice over the holiday period. Putterills offices all reported a very healthy August and are increasingly busy as buyers and sellers alike turn their minds to a pre-Christmas move.

However, there is a note of caution. The conveyancing time between sales being agreed and sales actually exchanging seems to be getting longer and longer. On average, it used to be about eight weeks but now seems to be getting closer to three months! There are a variety of reasons and any chain can only move as quickly as its slowest link. Mortgage approvals with some lenders are very slow and some conveyancers seem to be leaving many enquiries to the eleventh hour. With the increase of both online-only estate agents as well as conveyancers, this means it’s becoming increasingly difficult for traditional full-service estate agents, such as Putterills, to carry out chain-checks and expedite matters.

Thinking of selling?

If you are thinking of selling, you can help speed the process up. At the same time as putting your home on the market, why not instruct your solicitor? This will enable them to prepare a draft contract and even get searches on your own home underway in plenty of time so these things do not delay the process once you have found a buyer. We are always happy to advise on the best in your area, so please do ask.

With the local market strong and steady, now is an excellent time to make your move. Getting your asking price correct, to encourage buyers, is key. Whilst its human nature to want the most for your home, if an agent’s valuation seems high, ask them for recent evidence of SOLD properties to support it. If a property is on the market for too long, you can actually end up achieving less than if it had come to the market at a realistic price and sold more quickly, thus putting you in a better position to negotiate on your next home.

New Homes in particular are selling fast and Putterills specialist Land & New Homes department have a number of new developments, large and small, launching this Autumn.

Whether you are buying or selling, speak to your local Trusted Property Experts.
We look forward to being of service.