Target Property Services NE


Is ‘Now’ The ‘Right Time’ to Sell?

06th May 2024

Is ‘Now’ The ‘Right Time’ to Sell?

The UK Property Market for the week ending Sunday, 28th April 2024 (Week 17) saw an even better week for residential house sales than week before…. and that was the best week for Gross Residential Sales in nearly 2 years.
The headlines are as follows ..
· Listings for last week (Week 17) were just below the previous week’s listings, which was the highest week for listings since October 2020
· Total Gross Sales ‘year to date’ (YTD) are 10% higher than 2023 YTD levels and 7.0% higher than 2017/18/19 levels. The best week for Gross Sales in the UK since July 2022
· Net Sales last week were 4.1% higher than Week 17 2023, and 16.6% higher the 2024 weekly average. Best for Net Sales since May 2022.
· Sale fall-throughs still at just over 1 in 5 sales.
New Properties to Market:
The UK saw 39,039 new listings. This year’s YTD listings stand at 592,775, 11.7% higher than the historical 8 year YTD average of 530,322 and 9.4% higher YTD 2023.
Average Asking Price of this week’s Listings vs Average Asking Price of the Properties that Sale Agreed this week: 24.6%. The long-term average is between 16% and 17%.
Price Reductions: Last week, 22,997 properties saw price reductions, a significant number compared to the 8-year Week 17 average of 14,886. This means 1 in 6.47 properties each month are being reduced (Long term average 1 in 9.9 per month)
Average Asking Price for Reduced Properties: £414,903.
Gross Sales: 27,712 properties were sold STC last week
Accumulative Gross Sales YTD: The total stands at 404,929, exceeding the average of 375,117 from 17/18/19 and 368,120 in the same week 17 in 2023.
Average Asking Price of Sold STC Properties: Still staying in the £350k/£360k range at £364,018.
Net Sales increase from last week’s figure to 21,782. YTD ’24 average 18,688
Accumulative Net Sales YTD: The total stands at 317,694, 5.3% higher the 17/18/19 YTD Net sales average (301,676) and 11.9% higher than the YTD figure for 2023 for Net Sales (2023 YTD : 283,793).
Thinking about Selling? Think Target Property NE

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Joe and Keileigh have been very professional and with excellent communications throughout. They listened and acted to suggestions as well as providing advice and support. The unique difference to other agents is they were always available, working well beyond office hours as they really put their heart and soul into their business. Definitely recommend to anyone looking to sell their home.

- Richard

The 5 stars say it, Joe and Keileigh were brilliant from the initial phone call to handing over the keys. Nothing was a bother even opening the property on an evening (I work long hours). Everything is as it should be and I wouldn't hesitate to recommend Target property NE whether you're buying or selling. Great team, Thank you.

- Mick

After trying to sell my dad's property unsuccessfully with other agents I approached Target properties who right from the start did a very professional job. They sold it with no problems along the way. I would recommend them to anyone wanting to sell. Thank you both for everything

- Janice

Joe and Kayleigh were brilliant throughout the sale and buying of our new property. Always at the end of a phone, would highly recommend this very personal touch agency.

- Keith

Just wanted to thank Joe at Target Property for his support in selling my fathers property. Joe went over and above his position to ensure I had all the support I needed during a stressful time and also made the journey very smooth. Nothing was ever an issue for Joe. I would highly recommend Target Property if you are looking to sell a property or purchase a property. Rest assured you will be in good hands. Thank you very much for all your help

- Linzi

Thank you Target Properties for taking us through the process of our property sale. Joe and Keileigh you have been a fantastic team providing us with excellent service throughout, with regular updates, and a friendly professional approach. Always at the end of the phone if we needed you.
We wold definitely recommend your services to anyone looking for a knowledgeable and local professional service

- Kathleen