Following the latest research by Rightmove, this autumn has seen strong buyer demand for properties across the country, which is set to continue through to winter. Leading Sussex estate agents, Mishon Mackay, considers now to be a great time of year to sell your property.
Rightmove’s data shows that currently two thirds of properties are marked as ‘SSTC (Sold Subject to Contract)’, up almost 17% compared to last year. Following the end of the stamp duty holiday at the end of June, sellers were worried of the effect this tax relief finishing might have on their potential saleability in a new market arena. However, we at Mishon Mackay are currently seeing strong demand for all types of property that far exceeds supply.
Rising by 1.8% last month, October saw the highest percentage monthly rise in property prices since October 2015. Rightmove also explained that all regions across Britain have hit new record price highs due to the high demand for properties, yet there is little supply, meaning prices should continue to remain strong into the new year.
Alex Mackay, Managing Director at Mishon Mackay, said: “The property market is still very strong, and demand is high. If you’re looking to sell up and downsize, now could be a great time to do it as you will secure a good price for your property.”
UK house prices are continuing to rise 10% year on year, especially in the South East due to the South coast becoming an increasingly popular location as home buyers look to relocate, and flexible working becomes the new norm. West Sussex was recently included in a study of the most sought-after counties to move to in the UK in 2021, as thousands of homeowners look to relocate to a different part of the country.
Tim Bannister, Rightmove’s Director of Property Data, says: “Sellers have had a better chance this year than at any time over the past decade of finding a buyer for their home, and new properties coming up for sale haven’t been able to keep pace with buyers who have been snapping them up.”
Mishon Mackay has eight residential sales and lettings offices covering Sussex and London, as well as land and new homes team that provides professional development advice services throughout the region.