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Thu 14 Mar 2024
In the ever-evolving landscape that is the UK property market, the process of selling and buying a house demands a nuanced understanding of current dynamics. At ehB, each member of our sales team has an impressive 15 to 30 years of experience and stands with you as your guide through this journey. Read on to learn more about what’s been happening so far in 2024.
What’s The Market Like?
The current UK housing market is, in a sense, moving at two speeds. Properties priced accurately are swiftly being snatched up by eagle-eyed and motivated buyers, creating a sense of urgency and competition. However, over-priced properties languish on the shelf, waiting for the right match yet remain unlikely to find one for this very reason. This price sensitivity underscores the importance of strategic pricing in today's property market.
Market Insights
The latest data from Rightmove sheds light on the current state of the UK housing market. Average new seller asking prices have seen a month-on-month rise of 0.9%, reaching £362,839. This uptick marks a tentative return to positive annual price change after six months of declines and is sure to impact those selling and buying a house.
Agreed sales in the initial six weeks of 2024 are a promising 16% higher than in the same period last year, and 3% higher than the market of 2019. This surge indicates that buyers, early in the year, perceive 2024 as an opportune time to make their move.
The overall market momentum is further supported by a 7% increase in both new listings and buyer inquiries on Rightmove compared to the previous year. However, it's crucial to reiterate that the market operates at different speeds, with accurate pricing proving to be the key differentiator.
The Importance Of Accurate Pricing When Selling And Buying A House
In the current market, finding a buyer only takes two weeks longer than at the same time last year, with the average time to sell now at its slowest since 2015. Rightmove's analysis emphasises that agents who price right from the outset are far more likely to secure a quick sale. Naturally, we understand that this choice ultimately falls with sellers but those who listen to their agents’ advice are far more likely to see the results they want. Buyers remain savvier than ever, being conscious of current interest rates, and therefore price negotiations may take centre stage for some if property prices are too high, impacting those selling and buying a house.
In the words of Rightmove’s Director of Property Science, Tim Bannister, ‘We said that February would be an important indicator for the year ahead,’ and indeed, the market has proven resilient, with the number of sales agreed to continue to considerably outstrip last year's figures.
ehB's Success
When it comes to selling and buying a house in Leamington Spa and the surrounding areas, there’s really only one choice! Our achievements speak volumes about our expertise, which is underlined by a consistent track record of success. In 2023, ehB secured the most agreed sales (STC) in key postcodes according to Rightmove: CV32 4, CV32 5, CV32 6, CV32 7, CV31 1, CV31 2, and CV31 3.
This positive momentum has continued into 2024, with a strong start in January and February, witnessing a significant number of successful sales. Thanks to our team’s skills and their ability to accurately price properties based on several factors, we’re set for another great year and we hope you will be a part of it. Our current properties for sale can be found on our website.
ehB Is Here For You
In a market where pricing strategy is paramount, ehB is here for you. With a wealth of experience, our team understands the intricacies of the UK housing market. As you navigate the process of selling and buying a house, choose ehB for a seamless and successful journey. Contact today or by calling 01926 881 144 and let our team guide you through your latest chapter.
"Chris and the team at eHB have provided my wife and I with an amazing service. Given we are the other side of the world in Sydney, selling a house in the UK can be challenging/daunting. Chris made sure that the whole process was incredibly smooth. eHB provided us with sound advice, have been very efficient and quick to follow up any queries. We have also used eHB to rent the property for the last 7 years and it's been a great experience. The vetting and qualification process for both tenants and buyers has been sound. We have had amazing tenants and we had a great long list of potential buyers that were well qualified. Chris and the team got the house off the market in record time, for a great price. I would highly recommend eHB for both sale and rental. Thanks for your great efforts guys, it's been a pleasure working with you. Cheers."