Bigger than usual New Year bounce after extended year-end lull

Bigger than usual New Year bounce after extended year-end lull

Sales PLJ 15th February 2023

Rightmove report that on 5th January, the number of people sending a request to an estate agent to value their home was the third largest on record, an early sign of market confidence.

Indeed, that week was the busiest for these home valuation requests since August 2022.

However, even with the prospect of more sellers coming to market, the number of available homes for sale is still well below long-term norms.

Tim Bannister, Rightmove's Director of property science, says:

“The early-bird sellers who are already on the market and have priced correctly are likely to reap the benefits of the bounce in buyer activity, while over-valuing sellers may get caught out as property stock builds over the next few weeks and months, and they experience more competition from other better-priced sellers in their area.

It will be important for the vast majority of sellers to remember that a drop in your asking price is likely not an actual loss compared with what you paid for it, only a failure to live up to aspirations.

Listening to your estate agent’s advice about your hyper-local market and pricing right the first time can avoid a stale sale and the need for even greater reductions later.”

Amanda Brice, PLJ Director of Sales Malvern and Lettings, agrees with Tim and has been very busy all year so far.

"We sell our properties quickly by not over-valuing, so we are now eager to take on more properties to sell. Our advice is to get ready now for the expected bounce in activity."


For a free, no obligation valuation on your property, please call Amanda on 01684 575100




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