The competition is hotter than ever, with buyer demand per property for sale more than double that of pre-pandemic levels. Nevertheless, as we enter the busy autumn period, there are early signs of more properties coming to market, which may help to slowly rebuild buyer choice. Buyers who have already sold their own property, have the cash to buy without selling, or are first time buyers with a mortgage agreed will be in the most powerful position to secure the best of any additional autumn choice.
Agents are reporting that the most successful buyers are using tactics such as ‘sell before you buy to increase their buying power in this competitive market. Estate agents know the best methods for movers to secure their ideal properties, so it’s well worth discussing your options with them.
Market sectors explained
First-time buyer: This figure represents the typical property a first-time buyer would purchase, covering all two-bed properties and smaller ones that come to market (houses and flats).
Second-stepper: This figure represents the typical property of a person moving from their first home, covering all three and four-bed properties that come to market (houses and flats) excluding four bed detached houses.
Top of the ladder: This figure represents asking prices at the top end of the market, covering all five-bed properties and above (houses and flats), as well as four-bed detached houses.