Lack of new instructions
Two reports this week have highlighted the deepening crisis caused by the lack of fresh property coming to the residential markets.
In their July Residential Market Survey, the RICS reported that new vendor instructions have dropped back for a sixth consecutive month – and how this supply shortage is preventing transaction levels from rising.
Rightmove echoed this sentiment this morning – reporting that agents have 8% fewer new instructions than this time a year ago, Miles Shipside, Rightmove’s director and housing market analyst, said there was a “vicious cycle of not enough property on the market to meet demand, increasing prices and a reluctance among home owners to come to market if they think the prospects of finding and funding their next move are severely compromised”.
The Rightmove report points to three reasons why would-be sellers are reluctant to put their homes on the market; they either cannot find anywhere they want to buy, cannot find a property they can afford or simply believe the cost of moving is too high.
If you are sat on the fence and really want to be settled in your new home in time for Christmas (this year) then now is the time to speak to a property search consultant to get the ball rolling. At Colin Mackenzie Property we are in constant touch with various property professionals and often hear about a new instruction long before it hits the open market (sometimes we even know about it before the estate agents!)… When a good property does come to the market there is inevitably going to be high demand for it so it is even more imperative to be able to rely on our expertise as bespoke property search agents in the south east to ensure you rise to the top and feel like the cat who got the cream!
If you are looking for bespoke property consultants in Sussex or Kent, then please call us now on 01435 866988 and we will chat through the process we follow, giving you the peace of mind that we will do everything we can to help you find your dream home.