Sales secured faster in an increasingly competitive market

Healthier levels of enquiries and viewings are leading to offers being made and accepted within a month of marketing a property, as buyers begin to vie for fewer and more competitively priced properties, says Cluttons. Price disparity is also reducing as asking prices fall in line with buyer expectations.

“We are now seeing new instructions going under offer in under a month as a healthy supply of applicants are able to view immediately and are motivated to make an offer quickly for fear of losing the property,” says James Hyman, Partner for Residential Sales at Cluttons. “Properties marketed at the right prices are generating high levels of interest and a shortage of stock means vendors who are brave enough to sell are benefiting from the increase in activity.”

During 2008 vendors were experiencing long delays of several months between putting their property on the market and achieving an offer as the pool of potential buyers dried up. However, some homeowners are realising now is a good time to sell as many chain-free buyers who have been renting are coming back to the market.

“Price disparity is reducing as asking prices fall in line with buyers’ expectations,” adds Hyman. “Prices are definitely firmer now than in the second half of 2008."

For more information, visit cluttons.com