Homes Are Moving Fast In Spring 2022

With a significant level of demand for property these days, it is no surprise homes are welling quickly.

This is something we have seen for ourselves at Williams of Petersfield, and it is something that is happening across the country.

If you are looking to sell your home with a minimum of fuss, please let us know.

Do you want to sell your home quickly?

In February 2022, 61% of properties were sold subject to contract in the first 30 days. In February 2021, only 43% of properties were sold in this manner. This is according to OnTheMarket, a property portal in the United Kingdom.

Jason Tebb, chief executive officer of OnTheMarket, said: “This faster-paced market doesn’t offer much opportunity for taking your time to come to a decision. With competition for available stock strong, buyers who aren’t organised and prepared to be decisive face missing out.”

Confidence remains strong for buyers

OnTheMarket also spoke with property buyers about how they feel about buying a home. The double-impact of rising mortgage rates and the cost of living becoming more expensive, could affect buyers. However, findings suggest there is still confidence amongst property buyers.

  • 75% of property buyers were confident of buying a home within three months
  • 82% of vendors were confident of selling their house within three months

There is heightened demand for property in the housing market. This is not a new phenomenon but information provided by the latest RICS Residential Market Survey suggests more new buyers are coming to the market.

Positively, the most recent report also suggests there has been an increase in the number of homes listed for sale.

Simon Rubinsohn, Rics chief economist, said: “Huge clouds of uncertainty hang over the economic prospects as energy prices continue to surge and the Bank of England grapples with how to manage monetary policy in this challenging environment. Despite all of this, there is little evidence yet that the mood music regarding the expectations for house prices or rents is shifting. It may well be that these trends ease as the deteriorating macro environment begins to bite, but the message that keeps recurring, both for sales and lettings, is there are in aggregate many more prospective purchasers and renters than properties available.”

How is the Petersfield housing market faring?

According to Zoopla, 254 properties have been sold in Petersfield in the last 12 months, and the average sold price for a property in Petersfield in the last 12 months is £575,783.

For the average price of the different property types sold in Petersfield across the last 12 months, please see below:

  • Detached: £886,665
  • Semi-detached: £472,786
  • Terraced: £427,555
  • Flats: £263,436

We know the local market well, and if you are looking to make a move in, out or around Petersfield, we are here to assist you.

Contact Williams of Petersfield for all your 2022 housing market needs

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Connecting With Property Buyers This Spring

It is likely there will be considerable activity in the housing market this spring. As we move out of lockdown, many homeowners will look to make changes which allow them to make more out of life.

Also, there were a number of property market measures introduced in the 2021 March Budget. Many households will have examined their options, and it is likely some will find these schemes and new support to be of benefit to them.

If you are looking to sell your home, Williams of Petersfield is here to assist you. We have helped many local property owners connect with buyers, and we can do the same for you.

To improve your chances of connecting with buyers, it is vital you know what they are looking for.

Know what buyers are looking for

The study from GetAgent examines how people have changed in the past year when it comes to owning property. Homeownership is a dream for many people and households, but does the dream end with merely owning a home?

We know many people we work closely with spend a lot of time and money transforming their home. By doing so, they create a house where they feel at home.

The findings from the study were as follows:

  • 38% of homeowners said owning property was their main aspiration
  • 45% of respondents said that there was more to property ownership than having a roof over their heads, and it’s important that their home fits with their lifestyle
  • A further 17% of respondents said it was very important that their home fits with their life

The survey also asked people to rank what was important to them in their home, with the following results:

  • 24% of respondents said safety was a priority
  • 20% said size was a priority
  • Energy-efficiency was stated by 19% of respondents
  • 8% said having a garage
  • 6% said having a garden mattered
  • A home bar mattered to 4% of respondents
  • 3% of respondents stated an integrated media system mattered

People want to love their home

Colby Short, Founder and CEO of GetAgent.co.uk, commented: “There’s no doubting we’re a house-proud nation but the definition of being house proud has certainly evolved over the years. Gone are the days of presenting a pristine show home to impress friends and family and today, we love to put our own unique stamp on our properties in all manner of ways.”

Colby concluded by saying; “For some, it’s energy-efficient improvements such as solar panels, for others a space to get their hands dirty working on their latest project is important. Others prefer to entertain, while the latest technology integration or entertainment system makes some of us tick. Whatever it is, we love to spend time at home doing the things we love and so it’s no surprise that they’ve become more of an extension of who we are rather than simply a roof over our heads.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.