10% More Supply but Here’s Why it Might be a Good Time to Move

Sussex property supply – or at least, the UK average – currently might be sitting at 10% more than in any time over the last 5 years, according to official data. Put simply, buyers have never had more choice when it comes to securing their next home. Additionally, estate agents are reporting slower times to sale agreed, lower than expected offers, and sellers who refuse to take heed of the market, sticking instead to their guns and often ignoring the obvious signs hitting them squarely in the face. 

While properties coming to market have never been more numerous, per recent years, buyer demand has stayed constant and arguably may have even fallen. Higher interest rates, uncertainty in the job market, rising costs and precarious chains mean the perfect storm for putting a dampener on things, if you’re a Sussex seller. Whether you’re in Horsham, Southwater, Storrington, Cranleigh, Worthing or Ashington, the story remains the same – more supply, subdued demand and a pressure on prices. Slower times to sale agreed, then conveyancing that is fraught with risk and delays. 

So, why would anyone consider moving now? Well, for the reasons above. Sussex sellers can enjoy the uxury of time. No masses of buyers demanding to view right this second, and a market dictated by slow pace and enjoyable perusing. No rushing to secure a property that has 15 other viewings this weekend; a chance to unwind, explore new areas, and see what floats your boat. Some houses may be facing waning demand and pricing pressure, but this is relative across the whole market, so you can expect to be able to negotiate on your purchase, too. With landlords selling up, and some sellers desperate to move cross country, there are unexpected deals to be had. Many mortgage lenders are offering fairly decent deals, too, and if you’re not in a rush to sell, you may well secure a premium price. With the right estate agent, marketing and patience, of course. 

Sussex continues to be a hub of property deals, with sales still happening and agents still booked up with viewings. Sure, things may appear slower, but since moving is considered a most stressful ordeal to most, it’s no surprise that this slower pace will suit many. Sussex sellers should go into the project with patience, open-mindedness, a willing to work with the estate agent, keep abreast of market and economy news, and use the time to their advantage. Full asking prices are regularly achieved, and clever pricing strategy could be the difference between a quick sale at an awesome price – or stagnating for months, your listing gathering dust. 

Homedin sits at the forefront of marketing, knowledge, experience and service expertise and we are not stopping churning out results for our sellers. If you’d like to learn more, just get in touch.

Thanks for reading.

James