Although interest rates (and therefore mortgage rates) have been increasing and the cost-of-living crisis is tightening household finances, sellers still can make the most of the market, which continues to work in their favour.
Recent market activity suggests it is still a seller's market, but it might not remain that way, so now is a great time to sell. With demand still outweighing supply, more buyers are willing to compete for homes.
During the autumn months, buyers hope to beat the Christmas deadline, creating a sense of urgency to move. Sellers willing to take the right approach can get their homes sold in good time.
Make the most of the current market activity
Agency trade body Propertymark reported that, in August, the number of available properties for sale per branch rose by 47% in winter 2021. During the same period, demand rose by 79%, which outperforms the level of supply significantly.
Furthermore, Propertymark also observed 86 new prospective homebuyers registered per member branch in August. This is an 79% increase since December last year.
The figures demonstrate that in the current market buyers are actively seeking a new home. In addition to this, the supply and demand imbalance is still working in the best interest of the seller.
With the demand still very much there despite external pressures, sellers can feel confident of getting their asking price or above.
As costs are forecasted to continue to rise, sellers are encouraged to act now in case the current buyer sentiment changes.
Pay attention to all aspects of the home
Homeowners who provide a clean, neutral-coloured home can open (many) doors to prospective buyers. Decorative preferences vary, so homeowners who provide a neutral home can allow buyers to better envisage themselves living there.
The best way to start is with a decluttering session. Unnecessary bits of furniture and belongings could get in the way of the sale. To prevent this, make sure all items are stored away neatly or out of sight.
Decluttering and cleaning also apply to the outside of the property. Trees, bushes, and grass should be well-kept to make the viewing process an enjoyable experience. If you have a driveway, make sure this is tidy and well-maintained.
Make fixes across the home
Every home is going to experience wear and tear at some stage. The key is to ensure all areas of the home are monitored and kept on top of so that no nuances put buyers off.
Dedicating time to fixing small cracks and chips that require repairing can boost the chances of a sale.
Buyers typically want the property to be suitable for them to move into. The less work the buyer thinks needs to be done, the sooner they think they can move in.
Homeowners who make the effort to rectify any features of the home before they list can better help buyers visualise themselves in the home and, in turn, get their home sold. Any major upgrade work or fixes need to be carried out by a professional.
Working with the best local estate agent and making sure your property looks the part can help you get your home sold in a seller’s market.
At Kings Group, we can help you to remain compliant and get the most from your sale.
For more information on how we can assist you on your selling journey, please contact one of our branches in Essex, London or Hertfordshire today.
We also offer a free and instant online valuation to give you an idea of how much you could sell your home for.
