A Regional Report – September 2022 Market Update
While the total number of buyers registered on our database remains higher than in January (up 36 per cent), we believe this is the start of a return to a more ‘normal market’, in which there is a more equal balance between supply and demand. This shows that there is an increase in the number of listings offering more choice for buyers.
VIEWINGS PER PROPERTY REDUCING
Website traffic remains as active. In fact, we have seen growth in the number of hits to each of our available properties. However, there are clearly other things now available for people to do, as the world has opened up from Covid restrictions. The number of viewings per property has reduced in the last month – albeit consistent with previous years, in which we would describe the market as more stable.
Interestingly, 55 per cent of recent new-buyer enquiries have come with a desire to own a home with flexibility and the option to earn a passive income through holiday lettings. Our pocket of Dorset is a haven for holidaymakers and buyers realise that stretching their borrowing-power to afford an annex, land or outbuilding for example, will more than pay for any additional mortgage repayments. This is a new phenomenon and something we haven’t seen with such prevalence in previous years.
All-in-all, estate agents are now having to work a little harder with their sales and marketing strategies, which is something we are good at. Properties are selling in a more normal time frame now, and agents that go above and beyond to attract the best buyers are standing out from the competition.
As featured in the The Negotiator: Regional Report (Alison Owens)