September is here. So, it is time for us to bring you our West Sussex Property Market Review for Autumn 2023. Read on for our market update.
Autumn is one of our favourite times of the year, not least because after the summer holidays, it often brings a much-needed sense of routine and renewal. This year, the economic turmoil of the last nine months has magnified this need for a return to convention.
The good news is that everybody is becoming accustomed to the new economic landscape, including the mortgage lenders, who are again beginning to price more competitively.
There are some predictions that interest rates may rise further. However, the past two-quarters have cemented what we already knew at Penfolds. Despite economic instability, homes will continue to find new owners because people will always have reasons to move house, whether upsizing, downsizing, or relocating.
It’s never just about bricks and mortar; it’s about lives transitioning, needs evolving, and dreams taking shape. Buyers may need a larger space to welcome a new family member, a cosier abode as the nest empties. They may have fresh chapters unfolding with new job prospects or be securing quality education for the next generation. In these circumstances, it’s not about whether a house will be worth more (or less) in twelve months; it’s about finding a place to call home.
For this reason, we still see demand outstripping supply as beautiful West Sussex continues to lure new buyers and current residents move within the area. However, pricing at the right level is crucial, and strong negotiation skills remain critical in every transaction. So, as a seller, having the right team by your side is vital. When you list with us, you (and your buyers) will always deal with Helen and Becky, benefiting from our combined three decades of experience in real estate.
Autumn is traditionally a perfect time to list your property, with motivated buyers eager to settle in before Christmas. If you’re considering selling but don’t know where to start, a conversation with us is a great place to begin. Contact us HERE.
