Moores Market Update – Summer 2022

image of mag of london pricing vs peterborough

In our experience, property sales in our area for the first half of this year have been better than the media predicted, mainly due to the lack of supply and the demand from out-of-area buyers.

Where post-pandemic we saw buyers from London and the South looking at our area favourably seeking a move to the country for the “good life” with more space around them etc, we have recently seen a slight shift in their motivation – an opportunity to detune the premium and expense of living in the traditional commuter belt. We have seen out-of-area buyers seeking to reduce/pay off large mortgages whilst still being able to purchase almost identical properties in our area. Consequently, they are willing to pay good prices for what they see as excellent value for money. 

As these buyers are accustomed to seeing properties sell for offers in excess of the guide price, a competitive guide price is an excellent way to get buyers through the door and offering; an optimistic price may not initially tempt them to get in the car.

Equally back-to-back viewing days, like open house viewings, work exceptionally well by demonstrating the popularity of a property and creating a fear of missing out which can also draw out competitive offers.

Our Property Roadshows/meetings with out-of-area buyers will commence again at the end of August. If you are already on the market with another agent, some of these buyers will often pay for an introduction – all we need is a couple of photos and a floorplan so please do contact us for a fresh pair of eyes to review your current marketing.

For successful off-market introductions during August, we are offering a cashback of £1,500 on our fees (minimum fee applies). Please call the team for details and a no-obligation valuation. 

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