Following on from the recent headlines describing a thriving UK open market, the impact is now being felt due to the level of housing stock available.
If you have had your eye on the open market at any properties lately, you may have noticed how quickly they are being snapped up!
Don’t worry, it isn’t just your imagination, this has been backed up by a report from Home.co.uk, who think they know why it’s happening.
The popular property search website claim that buyers have, on average, half of the choice that they had back in 2007. That is, there are 45% fewer properties available on the open market than at this time in 8 years ago.
This is believed to be the result of the markets ever-growing demand for properties, and supply struggling to keep up with the pace. This is not just something which is affecting notoriously strong markets such as London- as property supply shows annual declines in all regions.
This is progressively pushing the prices up, as potential buyers struggle against a predominantly sellers’ market. The average home price across England and Wales has risen by 7.3% over the past year, and it shows no signs of slowing down just yet.
London, the East of England, and the South East have shown have shown prices rising by 12.5%, 9.8% and 9.4% respectively in the last 12 months, showing just how strong demand is in those regions.
The problem that this can create for many budding home-buyers is the risk of a dream property quickly having its price inflated due to this growing demand, or even worse, being sold to somebody else!
There is no worse feeling that being stuck in a long, slow, chain as your property is being sold, and your dream property quickly disappearing from sight. We understand that at Quick Move Now, and we have helped countless home-sellers free themselves from situations like that.
Quick Move Now is proving to be a great solution for those in a similar position, as we can purchase your property quickly, for guaranteed cash. This can free you up to grab that dream onward move with no issues – and create the entire moving process easy and smooth.
We don’t use investors or mortgages, which means that we can make you a guaranteed offer and one that you can trust.
Quick Move Now understand the importance of being in a position to purchase your next home, and we pride ourselves on being able to purchase your property in as little as 7 days. This not only means that you can relax knowing that you can secure that onward purchase, but you can even negotiate as a chain-less cash buyer, too!