- Wed 26 May 2021
April saw an all time record high of one in three properties sold above the asking price according to the NAEA Propertymark data released earlier today. 32% of houses are said to have exceeded the asking price, this is twice the proportion of properties sold over asking price in the previous month March and beats an all time high of 19% back in May 2014.
The data also suggests the average number of people looking for a property per estate agency branch was 427, an increase from 409 the previous month and the available number of available properties per branch had decreased from the previous month. This supports the surge in registered applicants at Bradleys and the increased activity we are seeing across the South West. With Cornwall being the most popular location searched for on Rightmove and Devon being the third most popular, many people are bringing their moving plans forward to relocate to the coast or countryside, the South West is proving to be the hot spot!
Buyers are realising what is most important to them when buying a home after being in lockdown for so long, it has given people time to assess their work/life balance and what they will prioritise going forward. These include being closer to open green space, closer to the coast, having a home office and larger outdoor space. All which are features that many of our waterside and rural homes offer to buyers.
Bradleys Sales Director, Darren Ellis, commented: ‘The record breaking demand for housing is phenomenal with an average of 15 buyers for every available property we have on the market. The market is a strong sellers’ market right now with multiple offers resulting in higher prices and properties being snapped up quickly. If people are looking to sell, we have a clear strategy to ensure we obtain the best price in a fair and transparent way as our research shows that almost one in three homes is being undersold, so please contact us if you want to find out more.’
Bradleys Estate Agents provided free market appraisals for sales and lettings so if you are looking at making a change, please get in contact With your local Bradleys office, we would be delighted to discuss your moving goals with you.