The Chiswick Seller Drought and the Great Buyer Flood

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Chiswick Estate Agent Paul Cooney analyses the local property market for those planning to move in 2022 (Ad)

Over the past 12 months, it’s been widely reported that there is a shortage of homes available to buy, and it is especially clear that in Chiswick there is a lack of houses for sale, and far more buyers seeking properties than are available.

At each traditionally busy period over the past 3-6 months, local estate agents have hoped that a balance will be found and that more houses will become available for sale to meet the strong demand. However, the usual Autumn bounce was muted, further widening the gap between the number of buyers and sellers.

There are simply not enough homeowners looking to sell their Chiswick properties, and many buyers have their plans on hold, unable to find a property to buy.

Double the number of buyers searching compared to a year ago

We recently calculated the number of buyers registered in the final 3 months of 2021, from 1st October to the 23rd December 2021, a total of 358 buyers registered with Horton and Garton looking for a home to buy. In comparison, over the same period in 2020, which was a period when the temporary Stamp Duty holiday was in play, just 179 new buyers registered.

This is exactly a 100% increase in the number of buyers seeking property, despite the temporary reduction in Stamp Duty Land Tax having come to an end at the beginning of the period analysed.

Over the Christmas break, as they did over the summer, many buyers have continued to reach out and register their interest. The appetite for homes to buy in Chiswick is incredibly high as we enter 2022.

Is now a good time to sell?

Those considering selling their homes in 2022 would be prudent to make the most of the current imbalance between homes for sale and buyers seeking properties. Whilst buyers are not paying over the odds for homes, sellers are rarely having to compromise on their pricing, so long as a house is priced fairly.

Sellers who must sell their existing home to buy another property might be concerned about finding a home to buy and then making the timings work for all parties involved. This is where an estate agent can prove invaluable, by closely managing the transaction to ensure there is clear communication and that sellers and buyers move forward to a successful conclusion.

Preparing your home for sale or making improvements?

Having worked as an estate agent in Chiswick for over a decade, we have collated a large black book of local industry contacts.

Wishing to share details of individuals and companies whom we would recommend for home improvements, repairs or at the time of selling and buying. Horton and Garton compiled The Chiswick Property Directory and sent it out to homes in W4.

If you did not receive a copy and would like one, we would be delighted to drop it to you, or please download a copy here.

Selling your property in 2022

If you’re thinking of selling your property in 2022 and would like to talk to Paul about the best strategy for selling to suit your forward plans, please do get in touch on 020 8996 5120 or call Paul directly 07793 466463 for a no-obligation discussion.

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January 15, 2022