Leamington estate agency calls for more properties amid 7.1% house price rise

Fri 07 May 2021

With homes selling in record time, a queue of hungry buyers and a nationwide 7.1% house price increase, a Leamington estate agency is urging would-be sellers to get their homes on the market as soon as possible.

ehB Residential says there are simply not enough houses available to meet demand, which means no sooner are homes listed than they are snapped up.

Demand for properties across the country has seen prices rise by 7.1% over the past 12 months, according to the Nationwide building society. And the lender predicts that if the shortfall continues, prices could remain on an upward trajectory.

ehB office manager Clive Thompson says such is the demand that some properties are achieving above their asking price, with a number seeing multiple offers. This enables the vendor to choose a combination of the best price and the buyer most suited to move within their timescale.

“People who are renting, cash and first-time buyers and those in short chains are looked upon very favorably by vendors who have a choice of purchaser, as they can move quickly,” he said.

And he says part of the reason for the lack of available homes is that many buyers don’t want to list their own properties for sale until they’ve seen several online which could fit the bill for their next move. As current Covid guidelines mean physical viewings should only take place with proceed able buyers, they won’t be able to act until their home is on the market.

“Ideally, everyone thinking of moving would put their homes on the market straight away rather than waiting to see what comes up,” he said.

“We have huge numbers of people who are very motivated to move, in a good position and able to pay strong money for the right property. What we need though to enable them to satisfy this hunger is the houses for them to buy!

“Spring is traditionally a good time to sell. And with the bonus of renewed optimism thanks to the vaccination rollout and dwindling covid figures, buyers are even more focused on what they want. And that could be exactly what you’re sitting on.”

Contact ehB Residential on 01926 881144 or at info@ehbresidential.com to book a valuation.