Spring into action and take advantage of a sellers' market
As you'll have gathered from our most recent Sales Market Update, we're in the ultimate sellers' market this Spring and it's an optimal time to list your property. Despite the unique circumstances we've faced over the last year, the Cardiff market is boiling hot!
Spring is typically said to be the best time to sell your home as days get lighter and gardens start to bloom, helping your property look its best. Buyers are keen to venture out and view properties in the drier weather, hoping to move in their new homes for Summer. Coupled with restrictions easing and the kids going back in school, today's market truly belongs to the seller as buyers are extremely motivated to make a move.
Higher demand from active and engaged buyers
COVID-19 has had an impact on buying trends and has encouraged people to finally make a move; my team and I have taken an abundance of enquiries from people looking for more outside space particular.
Rightmove has been reporting record numbers of home buyers visiting their website this month – and so have we! We're seeing each property we list attracting around 50% more viewing requests than normal, resulting in our vendors receiving multiple offers and agreeing on a sale at significantly over the initial asking price (with the most popular Cardiff areas being Cyncoed, Penylan, Canton, Pontcanna, Cathays and Cardiff Bay).
Home sales are skyrocketing, whilst inventory of homes for sale has dropped
Demand for properties is high, whereas supply is low. This puts the ball firmly in the seller's court, allowing them to pick from a broad pool of potential buyers. Marketing your home soon will give you heightened exposure to buyers who will be actively competing against each other and driving up the offer price as a result! We're likely to see this trend continue throughout the summer, until the supply starts catching up with demand.
The equity released from your property sale may help you find a home that better matches your needs
Has lockdown life got you dreaming of a bigger garden or longing for your own study? Perhaps you fancy a home gym, or you'd just like to get away from a busy city location? So much has changed over the past year when it comes to what we look for in a home. Consider the equity you may be able to release from your current home and how it may help you purchase your dream home.
Ready to take the plunge? Let's work together to maximise the saleability of your home.
As I mentioned in my video update, I spend a lot of time with a range of local developer clients, discussing their diverse ideas and outlooks on how to transform a property. Through these conversations, I learn the latest trends and cost-effective solutions that will add value in the eyes of potential buyers. I'd love to help you sell your home and I'm here to share my local knowledge and expertise whenever you're ready to enter the market.
With the market continuing to thrive, your home may be worth more than you think! Start with a free market appraisal or, if you just have a few questions at this stage, you can reach me on 02920 454555 or email nathan.walker@cpshomes.co.uk.
Nathan Walker
Sales Director
The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.
