Market Update

The Autumn season has started off with a bang….and we don’t just mean the recent storms! Several sales have been agreed in the last few weeks which, along with a seasonally quiet August, supports the return of a more “traditional” West Country market dynamic.

This means that finding a buyer takes a bit longer, but the time to exchange is generally shorter as there is now a lot less pressure on solicitors. As always, our beautiful part of the West Country is a draw to all discerning buyers and the latent desire is still strong!

Whilst the property market stopped rising in September 2022, it is important to note the following historical rules still apply:

Supply and demand are the fundamentals of any marketplace.

Confidence, by its very nature, is fragile and nowadays is greatly influenced by the media in all its different forms.

The recent, much-appreciated, pause in interest rates and consequent reduction in mortgage rates greatly influences the confidence levels of potential buyers. We have found many that have adopted a ‘wait and see’ approach this year. For those that have been waiting on the sidelines, these positive developments are encouraging them to resume their search.

As confidence and stability return to the market, it is vital that your Agent is fully aware of all options and strategies to ensure as stress-free a sale as possible. They need to be able to identify any potential issues that may arise and nurture the confidence of potential buyers through the whole process to a successful conclusion.

As if to underpin the point, the latest OnTheMarket property portal update highlights: “Buyers (are) hyper-sensitive on price, so sellers would be wise to take advice from an experienced local agent.”

At DJR Estate Agents, we have a team of local professionals who, between 3 of them, have 85 years experience with local property. It’s never too early to discuss the potential sale of your property. Give us a call on 01566 777888 or pop in and see us in our offices at Homeleigh.