Rightmove.co.uk released its House Price Index this week and made an interesting read.
It reported that price of property coming to the market has fallen by 1.2%, which is the first fall at this time of year since 2013. With the price of property coming to the market having increased every year for the last six years, buyers saw their buying power eroding away, but with affordability constraints and political uncertainty being a major factor in the slowing of price rises, demand for the right house at the right price remains strong.
So what is happening in the Crawley Market I hear you ask?..........Well the usual Autumn bounce has yet to appear, where we would normally see a surge in people registering and looking to move before Christmas, this is yet to happen.
Pockets of high demand still exist but tend to be for properties at the lower end of the market, up to £250K, and in specific streets. Those properties in the higher end of the market are finding it tough to secure a buyer. Therefore, we are advising our vendors that the current market requires sensible and realistic pricing and needs to be presented in a saleable condition.