October by Numbers - DM & Co. Homes

As part of my continued open, honest and transparent approach - this is what October looked like for the sales business at DM & Co. (which reminds me, I will include lettings from next month!)

As you can see, no slow down - lots of properties coming to market (41), good viewing numbers (383) that converted into offers (85) and sales being agreed (28).

In a market that has become increasingly difficult to get sales agreed, I would like to thank those that have taken onboard what the team has been saying over the last few months and in many instances accepting that todays value is indeed that, todays value. If you want to sell in this market, please stop holding on for that offer that exceeds expectation.

The market will get tougher, many of the sub 2.5% fixed term mortgages are still to come to an end, this will see lots of movement in the market - people will be sleeping in houses tonight that they will not be able to afford when remortgaging at todays rates.

We have already seen this with a number of conversations across both offices from families that are deeply concerned about what the next 6/12 & 24 months will bring.

I personally do not see rates at sub 4% for at least 12 months.

This is not stopping those that are moving, from moving - there is never a time that suits all and each of our circumstances are very different.

I bought last year, is my house worth less today - yes; do I care - no!, why? - because I bought that house with a long term view - not because I wanted to sell it within a couple of years.

If you’d like to discuss any aspect of the property market. Please do get in touch with myself or any of the teams across the business.

All the very best,

Dominic