Medway Property Market Update | Tom Dix The Independent Medway Estate Agent скачать в хорошем качестве

Medway Property Market Update | Tom Dix The Independent Medway Estate Agent

Welcome to your February 2025 Medway Property Market Update! This month, we’ve seen some intriguing shifts and trends that are impacting both buyers and sellers in our local area. Here’s a breakdown of what's happening and what it means for you: Current Market Overview In January, the Medway area had 1,667 properties available for sale at an average price of £356,800. This represents a stable market with a healthy number of options for potential buyers. Sellers should note that maintaining competitive pricing is key, as the market is showing a steady supply of homes. New Listings and Sales A significant surge was observed with 446 new properties listed in January at an average price of £341,000, almost double the amount from December. This spike in new listings is a strong indicator of renewed seller confidence as we enter the new year. For buyers, this means more options and opportunities to find the right home at potentially more negotiable prices. January also saw 361 properties sold in Medway, marking a 5% increase compared to January 2024. This uptick in sales demonstrates continued buyer interest and a competitive market environment. Price Adjustments There were 194 price reductions in January, nearly 100 less than the same period last year. This decrease in price reductions suggests that properties are being priced more accurately at listing, reflecting a better alignment between seller expectations and market conditions. Market Confidence Zoopla reports that 17% of UK homeowners plan to move within the next two years, a strong signal of confidence in the market and broader economy. This is a positive sign for sellers, as it indicates a steady flow of potential buyers entering the market. Yearly Comparisons Comparing this January to the past two years, we’ve observed a 13% increase in buyer demand, a 12% increase in sales agreed, and a 10% rise in the stock of homes for sale. These metrics suggest a robust and growing market, advantageous for both buying and selling. National Trends According to Rightmove, the average price of property coming to market has risen by 1.7% (+£5,992) this month to £366,189. This is the largest jump in prices at the start of the year since 2020, signalling a potentially rapid heating of the market. Sellers might find it a favourable time to achieve higher selling prices, while buyers should be prepared for a competitive market environment, possibly needing to act quickly and decisively. Conclusion The Medway property market is showing signs of vitality and growth as we progress into 2025. For sellers, the increased buyer demand and rising property prices offer a promising opportunity to maximise returns. Buyers, while facing a competitive market, have more choices thanks to the significant increase in new listings. Whether you’re looking to buy or sell, staying informed and agile will be key to your success in this dynamic market environment.