Across the UK, agents are starting to report a shortage in property stock. New properties coming to the market are becoming scarce as buyers scramble to bid on the homes that are for sale.
Property is in demand and due to the low levels available, prices are being pushed up. In parts of the UK there is a real supply and demand issue. However, at JDG, we always like to look closer to home, namely in Lancaster and Morecambe.
Available homes in Lancaster and Morecambe.
Did you know? In Lancaster (LA1) there are 622 properties showing on Rightmove. The problem is that currently, only 299 are actually available for sale. 52% of the homes listed are sold subject to contract. The story is similar in Morecambe. In Morecambe, there are 764 homes listed on Rightmove. There are just 320 available for sale. 58% of these homes are sold subject to contract.
In a normal year, the percentage of homes SSTC averages around 36.2% (this is based on actual sales between 2015-2019). Across the UK, the ratio of homes sold is currently averaging at a record 59.1%. Simply put homes are getting snapped up. If you read our monthly market reports, you’ll have seen that the number of new properties to the market is almost on par with 2019!
At JDG we are listing homes for sale, the great news for our home sellers is that we are selling them quickly. Take a look at our register of home on Rightmove. You’ll see that currently, we have 148 homes listed. 108 of these are SSTC. We have just 40 homes available for actual sale. We are selling them very quickly and achieving superb prices. One of today’s sales agreed on a sale which was £20,000 over the asking price ( 5 people wanted it! ).
If you are thinking of moving, please think JDG. As you can see, our sales results are not only above the local average, but also the national average! Can we help you? Call us on 01524 843322 or email me at michelle@jdg.co.uk.
Thanks for reading
Michelle x