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.