Market Comment — Autumn 2021
Property; it’s the Great British preoccupation! And if you have read just a handful of newspaper articles from recent weeks, you’d be forgiven for thinking that the housing market is as unpredictable as our Great British summer. Some say the property sector is returning to normal with prices cooling, while others tell you that prices continue to rise at the fastest rate in two decades.
So, where do things stand locally? Well, at Penfolds, we still see demand outstripping supply. But what we’ve also noticed is a degree of price sensitivity. Beautiful West Sussex continues to lure out-of-the-area buyers, particularly from London. We are still witnessing multiple offers on some properties, usually at the asking price and often beyond. But over-the-top bids to secure properties are not as frequently seen as they may have been during the peak of the pandemic. And if a property is priced too high, viewings are scarce. So, it’s never been more critical to ensure that the price is right!
At Penfolds, we have built our reputation by striking a fine balance between a fair valuation of your home and achieving the best price possible. We believe in straightforward conversations and an honest approach, offering informed valuations that sell properties rather than flatter owners. We know there’s more to the value of a property than the number of bedrooms it has. There is always a unique value to the right buyer, and it’s our job to find you that buyer.
When it comes to supply, we appear to be witnessing what can only be described as a local chicken and egg situation! Houses, priced correctly, are still selling quickly, which means potential sellers don’t see a lot on the market. So, they are sometimes unwilling to list their property, incorrectly assuming it’s not a good time to sell… It is!
Autumn is traditionally a perfect time to list your property. Summer holiday conversations around the campfire have laid bare a family’s hopes for the future. They’ve returned home to routine and have solid motivation to be in before Christmas. They are ready to buy, so now is the time to contact us if you’ve been thinking about selling. And, of course, if you are hoping to move, you need to be in a situation to place your offer. That means being prepared so that you don’t find yourself in another type of chicken and egg situation.
At Penfolds, as independent estate agents, we always put people first. For us, it’s not just about selling your house; we also want to help you take the next steps on your property journey. A combined three decades of experience have armed us with the expertise and connections to help make that happen. As ever, it all begins with a conversation, so get in touch and let us move your world.