Market Comment July 2021

Market Comment July 2021

It’s no secret that the past 12 months have been extremely busy in the residential property market. Record levels of activity were influenced initially by the Stamp Duty Holiday but it’s mostly down to the number of people who have reassessed their lifestyles during the pandemic and what they're looking for from their homes.

The introduction of flexible working from home practices has also meant people are prepared to move further out from London and other major cities, which has brought many down to Surrey, Sussex and Hampshire. The locations are still broadly commutable but offer a different way of living, with villages and market towns surrounded by coast and countryside.

As a result of this surge of buyer demand, at Henry Adams we’ve seen a huge rise in enquiries directly to our website. People are looking for homes of almost every type and in every price bracket. Such strong buyer activity currently shows no signs of slowing, but there are simply not enough homes on the market to meet demand.

Gareth Overton, head of residential sales at Henry Adams, comments:

“The sustained high demand contrasts with a lack of new properties coming to the market across the region, which is putting upward pressure on prices. On many of our homes, we are now seeing multiple buyers making offers. This is resulting in prices being achieved way over the guide prices in many cases.

“In my 20+ years in the industry, I’ve never seen a market that is this competitive. For anyone thinking of selling, this is definitely a great time to go on the market as we have lots of able buyers waiting for the right home to become available.”

If you would like a free valuation of your property which reflects the current marketplace, contact your Henry Adams local office or email us at askhenry@henryadams.co.uk.