Supply & Demand - The Local Property Market

Well…what an incredibly fast paced and aggressive market that was. It is now some 18 months since Covid-19 closed the industry down momentarily before it was deemed to be a necessary industry to be kept active, and boy was it active!

The global pandemic, the end of the Stamp Duty holiday, record-low interest rates and the battle between good old-fashioned supply and demand, have all contributed to a real shift in market conditions.

The latter being one that I would like to discuss further as we have found ourselves in this position on several occasions recently.  Now more than ever, people would like to sell but do not want to go on the market until they have found their next home.  Unless you are in the fortunate position to be able to fund an additional home, being hesitant will put you at a disadvantage.

If you do find your dream property, and are not already on the market, there most likely will be a strong handful of buyers who are proceedable and will be looked upon more favourably – and ultimately you will miss out on the opportunity.

Many people have spoken of their fear in coming to market, “What if I can’t find anything?”

You should not fear coming to market, it is our job as agents to assist in both the sale and purchase. DM & Co will do our very best for you, attracting properties that you may like, and have an active database of vendors and buyers, who just might happen to like your property.

Please have faith in coming to market, it is our job to set the expectation of anybody who views your property.  If you haven’t yet found something then please do not worry, your purchaser will be made aware of the fact that you have need to find a property.  They may be patient, or may continue to look elsewhere, but most importantly, they and you, know where they stand.

If you would like to, or need to move home, we are here to help you when you are ready, and we can and will hold your hand throughout the whole journey.  Please do not feel under any pressure to get in touch – just say when…