Demand Outweighs Supply

Tue 28 June 2016

When asked how the market is at the moment, the only answer I can give is extremely good. It was thought by some that with the lead up to the EU referendum, and the uncertainty that surrounds it, sales would slow and the market would become quite quiet.

Well this is certainly not what we have seen happening over the last couple of months in the Welshpool Office. During April and May we have seen a superb level of sales agreed, with May 2016 becoming the joint best month we have ever had in terms of sales agreed subject to contract, since the office was opened in 2011.

I feel we have experienced such a great run of sales, due to there being a very limited amount of property on the market for buyers to choose from with demand currently outweighing supply. So rather than slowing sales, the lead up to the referendum seemed to affect the number of new instructions, which was quite frustrating because if we have the stock then we are confident we can sell it.

Any new instructions coming to the market at present, are receiving a very high level of interest providing the price and marketing are correct. In fact, the Welshpool office has sold over 50% of the new instructions received during April and May 2016 in the first 4 weeks of marketing, with the two quickest sales being agreed in 6 days and 8 days.

We are still in desperate need of new stock so if you are thinking of selling, then please feel free to call me at the Welshpool Office on 01938 531000 or e-mail me at jamie.tulloch@mccartneys.co.uk

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