It's been two months since the last Rightmove update on this blog, and what a difference those two months can make.
The first quarter of the year our portfolio of property for sale and under offer consisted mainly of houses, with a few two beds but pre-dominantly three bedrooms, being the most common purchases. Almost all went on the market and created immediate interest, with viewing numbers high, Saturday Open Day's and offers within a very short period of time.
The last few months have been different. The portfolio remains largely three bedroom houses, but the prices, viewing numbers and offers are all in lesser supply than before.
And the message is the same across the whole of Welling, DA16 based on my conversations with other local agents, surveyors, and the volume of reduced properties on a daily basis on Rightmove.
So to the Rightmove stats ...
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| Average Property Prices in Welling, DA16 in July 2017 |
Referring back to the comparable figures from May 2017 from the same Source (Rightmove) prices for 2/3/4 bedrooms houses are all lower. Not massively so, but all the same there has been a small reduction. Five bedroom house prices are, ironically, up by over 15k, but given there were only half a dozen transactions of five beds in that time its a small sample to judge on.
The same applies with flats, with 1/2 beds down in price, and three beds up slightly.
If you are looking to move now, especially over school holiday season, you still will, but pricing is clearly more crucial than ever. Get it wrong, and you will have to lower the price, and the initial impact of hitting the market will be lost.
As always, if you need advice on anything relating to residential property please do not hesitate to getting touch directly on kevin@dansonpropertyservices.com
