CLICK HERE TO FIND OUT HOW MUCH YOUR SOUTHAMPTON PROPERTY IS WORTH
If you are either selling or buying a property in Southampton, there
are a few reasons why it may be taking some time to sell your Southampton home
or find that perfect place to call your new home. It may be taking longer than
you thought to find a buyer for your home because of the current state of the
property market or finding that perfect Southampton home may be taking too long
because of a lack of properties to buy.
So, taking everything into consideration, all of these factors
invite an
obvious question; how long is too long to persist in the Southampton
property market?
If you are looking to sell your Southampton property, it may
have become infuriating when your home has been on the market for longer than you
anticipated. Perhaps the property market is purely in a position where it's challenging
to get a property sold quickly, or sold at the price you want to achieve for it.
If you do live in a Southampton home that is towards the upper reaches of the
price band, you have to be open to the idea that because it's worth so much
more than the average property in Southampton and so more than most individuals
can afford, you will have to wait longer to get it sold.
Your Southampton home might be taking longer to sell because
your asking price is simply too high. Even if you are prepared to take a
realistic offer, if you have an unrealistic asking price your overpriced Southampton
property will undoubtedly turn off potential buyers from even being inclined to
book a viewing.
Looking at the market in Southampton compared to a year ago
makes very interesting reading…
When it comes to the average length of time on the market, all
the property types in Southampton appear to be taking longer to sell.
The overall average length of time a Southampton
property remains on the market has risen by 20.5%, from 61 days a year to 74
days today
The question that remains is, if you are having no luck
selling, should you leave your Southampton property on
the market or not? This is basically down to your personal circumstances - a
big decider has to be if you are moving up market or downsizing.
Buyers will compare your Southampton property to all the
other homes on the market using the portals such as Rightmove, On the Market
and Zoopla and even if your asking price is realistic, if your marketing
(brochures, pictures, even video walk through) isn’t top dollar, they will
dismiss your property.
Remember, the average buyer only views 4.5 properties
before they buy and on average, each buyer will only spend just over 25 minutes
viewing each home …
The more properties that are on the market, the greater the
choice for buyers (yet more competition for house sellers), so we wanted to
look at how many homes were for sale in Southampton now, compared to 12 months
ago.
As you can see, there are some differences between the property types in Southampton.
As for buying a Southampton property, searching for that
dream house can take time as you have to consider the needs of your spouse,
children, schooling, etc., what you can realistically afford and whether your current
location can accommodate you until you find that perfect Southampton home.
Don’t forget that upwards of 10% of homes do not make it to
the portals (the portals are Rightmove, Zoopla and On the Market), so
don’t just rely on the portals to let you know what is coming on the market.
The number of times I speak to disappointed buyers who missed out because other
buyers registered directly with the agent for property, whilst they relied on
the portals.
When it comes to buying a Southampton home, and so you do
not make any decisions you will regret later on, taking your time is always the
more practical option. The amount of money that is involved in buying a home
and all the costs connected with it means that you should not rush into buying
or selling without due consideration.
If you would like to pick my brains on the Southampton Property Market – pop in for a coffee or drop me a line on social media or email.
If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.
Email me on brian.linehan@belvoir.co.uk or call on 023 8001 8222.
Don't forget to visit the links below to view back dated deals and Southampton Property News.
Twitter, https://twitter.com/sotonbelvoir
LinkedIn, https://www.linkedin.com/in/brianlinehan
LinkedIn, https://www.linkedin.com/in/brianlinehan
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