As winter approaches, the temperatures are cooling, and you’d be forgiven for thinking that the West Sussex property market might too. After all, the newspapers have been full of stories about higher inflation and interest rate rises in recent months. These are both factors that might traditionally slow things down, and one might even consider them the pins that are about to burst a property boom.
However, at a local level, we know this is not the case. Demand continues to outstrip supply, and this situation means we are still seeing multiple offers on some properties, usually at or above the asking price.
This continued market strength is partly due to the steady stream of buyers who want to escape London and are prompted to explore West Sussex by lifestyle magazines and newspaper supplements. Only last month, the Times published an article, subtitled, “Move over, Somerset and the Cotswolds — Why this national park (South Downs) is the hottest new country address.” However, we are not relying solely on city-dwellers to fuel the market. We also see plenty of movement within West Sussex as current residents know they won’t find a better place to call home and are looking to upsize and downsize locally.
Of course, at this time of year, we wrap ourselves up in festive plans. So, if you’re thinking of selling, it’s easy to fall into the “Let’s wait until spring” camp. Please don’t! Firstly, your buyer is sure to spend the Christmas break scouring Right Move. Last Boxing Day, visits to the website were 54% higher than the previous year.
Furthermore, finding ‘the perfect home’ will be at the top of their New Year’s resolutions list for many potential buyers. And finally, it’s much more likely you’ll get a higher price for your property when there is less competition. And as Property People, we have enough conversations with prospective purchasers to know the listings that will appeal to them are in short supply.
Our message to everybody who is thinking of selling is that you haven’t missed the boat. The outlook remains positive for 2022. But it all begins with a conversation, and now is the time to get in touch with us.
Remember, as independent estate agents, we always put people before property; so, whether you have a large family home, a semi-detached in a local town or an apartment in a conversion, we can help you find your buyer and facilitate the next steps on your property journey. Contact us HERE.
All that remains is for us to wish you the very best for the festive season and a prosperous new year!
Becky & Helen
