|Founder and CEO of Springbok Properties, Shepherd Ncube, commented:
“These latest figures suggest that a degree of seller optimism has returned to the UK market with a consistent increase in asking prices so far this year pushing the national average close to a new record.
However, sellers should still approach with an air of caution as current market conditions will continue to see unnecessarily overpriced properties languishing for months on end with little buyer interest.
Pricing appropriately based on your local market landscape will ensure a smoother sale for the highest price, but as the current north-south divide demonstrates, this should be based on regional buyer appetite and not personal or sentimental feeling.”
Director of Benham and Reeves, Marc von Grundherr, commented:
“London continues to cool where seller expectation is concerned but this decline is starting to slow and the time it’s taking to sell has also reduced considerably, suggesting more realistic asking price trends are enticing buyers back into the fray.
Affordability and Brexit uncertainty continue to act as market anchors but not to the degree that we’ve seen in previous months.
The silver lining to faltering asking price levels and the addition of low mortgage rates is that market conditions are currently perfect for first-time buyers and as a result, it is this demographic leading the charge in a market otherwise blighted by Brexit angst.
Zone 3 seems to be the London landscape of choice for the capital’s buyers, providing a greater deal of property for the price tag while remaining within touching distance of the city for those looking to put down roots.”