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Sales Update – Summer 2022

02.08.2022

The sales market has continued to hold its own amid headwinds and rising interest rates. Values have remained steady and transactions are still largely being driven by owner occupiers, many saving vast sums by swapping renting for ownership. Buyers remain very price sensitive however, and any asking prices that are over inflated are soon being reduced. Our sales team is advocating a more accurate approach, we are advising vendors to get the price right from the outset, rather than overshooting and ending up having to make several reductions in price. This can lead to a cascading of the price and it can send signals to buyers that the property is unwanted or unappealing. 

The news around the cladding saga finally seems to be showing signs of promise. With the government’s latest moves seeming to assure lenders, and more and more ESW1 forms being issued and more cladding work underway of finishing. Hopefully, vendors currently locked from being able to market their properties will finally be able to move on and market their homes or investments.

Written by

 

Jaimie Beers – Managing Director

[email protected]

MP Estate Agents Ltd. Company number 12576693
2 Plough Way, London, SE16 2EU. VAT number 942264820