March Property Market Update

Welcome to the monthly Property Market Update from Harrisons Homes.

With Spring in the air everything is starting to look a little more lively and that’s certainly true when it comes to the property market in and around Sittingbourne.

Across the country 2024 got off to a strong start with high levels of activity from both buyers and sellers. The coming months show no signs of slowing down and there’s a possibility that the Budget on Wednesday 6 March will unveil some surprises. If these include measures to help first time buyers, this year could really be one to remember.

Here’s a deeper dive into the recent facts and figures showing how things are going so far this year…

For sellers

It’s always true that sellers who go on the market with the right price straight away are far more likely to sell quickly.

The latest UK property benchmark figures from Rightmove reveal that demand is strong enough to see average new seller asking prices rise by 0.9% across the country last month.

The number of sales agreed is also higher than this time last year, 16% up in the first six weeks of 2024 over the same period last year. Perhaps more importantly, the figure is 3% higher than in the most recent more ‘normal’ market of 2019.

For buyers

The good news for buyers is that Rightmove reported 7% more new listings than the same time last year. However, as that’s matched by a 7% uptick in the number of buyers making enquiries it shows that although there’s certainly some choice out there you really do need to move quickly to secure the right property at the right price.

In fact, one of the trends emerging for this year looks likely to be something of a ‘two speed’ market, with homes that are priced accurately selling quickly and other overpriced properties becoming stale and staying on the market for months.

Of course it’s good news for everyone that mortgage deal rates have fallen from their peak last summer and are now staying relatively stable too. When buyers can plan affordability accurately it always follows that correctly priced properties will sell.

Facts and figures

At Harrisons we pride ourselves on being different to your average estate agent. That’s easy to say, and for us it’s easy to back up with facts and figures too.

Our latest stats show that 50% of our sales were agreed for sums above the asking price. When you take into account that one in five UK sales agreed a 10% discount on the original asking price, it really highlights what we can do for sellers.

We’ve produced a booklet that sets out our unique ’12 Step Plan To Sell For A Premium Price’ in detail – if you’d like to read it get in touch and let us know.

Our unique marketing isn’t the only thing that sets us apart – we have zero week contracts and peace of mind reservation agreements that once again prove how we mean it when we say we do things differently.

Find out more – email hello@harrisonshomes.co.uk, call us on 01795 474848 or even better pop into the office in Sittingbourne for a coffee and a chat.

All the best

Chris & the Harrisons Homes team

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