Blog

 

Now could be the perfect time to get your property on the market as 2024 kicked off with more positive news. At the end of 2023 Zoopla* reported a 17% increase in new sales agreed as buyers sought to finalise their offers.*

 

This influx in market activity appears to be rolling over into 2024, as mortgage rates have become more competitive and buyers seem to continue their return to the market.

 

Further, according to Zoopla, the average UK home is now worth 18% (or £41,000) more than it was at the start of the pandemic in March 2020. * This suggests we can expect housing supply levels to continue to grow over the coming months as sellers make a confident return to the market.

 

Selling in a competitive market

 

Selling a property in a competitive market demands a thoughtful and strategic approach. Competition can be fierce during peak market periods, so you’ll need an expert on your side to help you navigate the selling process and achieve the best possible price for your home.

 

Understand market trends

It’s important to stay ahead of the curve by speaking with an expert local agent. They can identify up to date supply and demand dynamics in your area, considering recent sales and property conditions, and use this information to help advise a competitive yet achievable asking price.

 

Invest in effective marketing

Digital marketing is a powerful tool, so you’ll need someone with an expert hand, an established network and a variety of platforms to maximise exposure.

 

Responsive communication

When the market is busy, properties and service need to stand out to potential buyers. Time is of the essence, so work closely with your agent to accommodate viewings, as you may be able to offer a booking slot which other similar properties cannot.

 

Negotiation strategies

It’s important to have a skilled negotiator on your side who understands your property’s true value. Let your agent know if you’re willing to be flexible, as this could be the key to a successful, low hassle deal.

 

                                                                                                                                                                                                                                                        Written by Durden and Hunt Director, James Hunt

 

Loughton Estate Agent, Hornchurch Estate Agent, Ongar Estate Agent, Wanstead Estate Agent, Canary Wharf Estate Agent