Has there ever been a better time for Sawbridgeworth home sellers?
The Sawbridgeworth property market, for people looking to sell, is at its sturdiest for at least the last five years with home buyers jumping onto the Sawbridgeworth property ladder with abandon.
Sawbridgeworth house prices are anticipated to rise throughout 2021 after the Stamp Duty cut (and subsequent extension until the autumn) and the newly revealed 95% mortgages for Sawbridgeworth first-time buyers (and Sawbridgeworth homeowners with minimal equity).
In addition, the continued low interest rates and the demand for larger homes because of lockdown means the Sawbridgeworth property market should remain bullish for a while. There is a surge in potential buyers putting themselves on mailing lists with Sawbridgeworth estate agents, making the biggest disparity between supply and demand for Sawbridgeworth property for many years.
Fears of a cliff edge for the Sawbridgeworth housing market at the end of March have dispersed, somewhat due to the Stamp Duty tax deadline extensions, but also because the elevated level of buyer demand caused by the three lockdowns has continued to swell since the start of 2021, meaning that today …
75% of Sawbridgeworth properties on the market are Sold (STC)
Interesting, when utilising data from theadvisory.co.uk website, the Sawbridgeworth average for the last five years has only been 51%, meaning there has been an uplift of 45.8% in the proportion of Sawbridgeworth properties sold (stc) compared to that five-year average.
Yet what can’t be forgotten is that 9 out of 20 Sawbridgeworth house sellers are also Sawbridgeworth house buyers as well, so whilst they do indeed achieve a higher price for their Sawbridgeworth property, they also have to pay more for the Sawbridgeworth property they want to buy.
So, how much will Sawbridgeworth house prices rise by?
Like all things in life, it’s all about demand and supply. I have discussed the demand, yet what about the supply of properties for sale?
There are 31% fewer Sawbridgeworth properties for sale today compared to 3 years ago
Whilst February saw a lower-than-normal level of new properties coming onto the Sawbridgeworth property market, the easing of lockdown roadmap and faster rollout of the vaccine is also persuading more Sawbridgeworth homeowners (especially those older Sawbridgeworth homeowners who have had their jabs) to start making the first steps towards moving home in 2021.
This will mean there will be more Sawbridgeworth properties available for sale in the conventionally busier post Easter market in the coming weeks and months which should cause more equilibrium and help keep Sawbridgeworth property prices in check.
These are interesting times for the Sawbridgeworth property market. If you are a Sawbridgeworth homeowner or Sawbridgeworth landlord looking to buy or let your Sawbridgeworth property in the coming weeks or months, don’t hesitate to drop me a line to discuss what all the points raised in article mean to you