- Tue 29 Jun 2021
Further reports on how active the property market is have been released by Rightmove, which shows record numbers of homes selling for the asking price or above. Rightmove have collated data from early this year which proves that no less than 35% of homes sold in the South West for the asking price or higher- this phenomenal statistic is well above the long term average of 10% recorded from 2005.
The summit in numbers we see here determines the buyer bidding wars that have been experienced across all of Bradleys 30 offices in recent months. A snapshot between 1st and 28th June this year saw Bradleys achieve the asking price on 35% of the properties they agreed and 40% of them over asking price, which means a staggering 75% of all properties that were agreed were at or above asking price! Furthermore this is evidence of the extraordinary market that has arisen in light of various lockdowns with people deciding that they want or need a West Country style of living, whether that be along the stunning costal lines or in the heart of the rural villages.
Bradleys Group Sales Director Darren Ellis commented “The market has been hot since the beginning of the year and still remains so. As we approach the height of summer where the South West comes into its prime, people will be visiting notorious holiday hotspots as caution is still around overseas travel. The influx in visitors will only increase the interest of people moving to the region and with this mind we don’t see things changing just yet. We urge vendors looking to sell to research their chosen Estate Agent and ensure they have a strategy to secure the best price for a home, which doesn’t necessarily mean asking a high price for it!
We recommend you speak to your Bradleys local office to discuss your move and the database of buyers who are eagerly waiting to offer on properties similar to yours that many have missed out due to the competitive marketplace. We look at each property individually and it could be that marketing your home at a desirable guide price will entice more interest and in most cases create multiple offers from multiple buyers resulting in you achieving well above asking price for your property.”