Property market predictions can be difficult to get right. Amid the ever-shifting state of the economy, real estate prices can be affected by a multitude of influences. That’s why it’s heartening to know that despite the economic difficulties which have presented themselves lately, some areas of the market are still performing remarkably well.
Take for example the percentage of asking price achieved for sales across England and Wales, which monitoring service GetAgent has recently released data on. In this country-wide snapshot of real estate activity, many areas have seemingly defied the economic forecast and achieved close to, if not above their originally stated asking price.
For example, in some of the market’s most highly sought after postcodes, some of the most profitable sales have been seen. These areas have seen buyers secure some of the highest asking prices relative to what was originally requested.
What’s been the driving force behind these profitable sales? A combination of different factors, perhaps, including the knowledge that those recently entering the housing market today will face a higher likelihood of swiftly turning a profit on their investment. On top of that, competition among buyers eager to get their hands on a good property is running high. Add in fortunate Boomerang buyers and savvy investors, and this could very well be the perfect storm for an active real estate market.
This competition amongst buyers is being made all the more fierce due to the fact that the number of new homes is hard pressed to keep up with demand. It’s small wonder, then, that the property market has been practically buzzing with activity. In the best postcodes of England and Wales, properties are being sold for as much as 110% their original asking price, which is a fantastic return for sellers looking for a quick sale.
Property prices aren’t expected to stay at these heights for long, so now might be the best time for buyers to secure a dream property before competition arises. If sellers make the most of the current opportunities on offer, it’s possible to achieve a much better sale price than expected.
For those thinking of entering the real estate market soon, it’s worth noting that some areas of the country are performing much better than others in terms of asking price versus the price achieved. Making sure you’re in the right geographic location is key to finding a suitable property that’s worth your investment; it seems that right now, it’s certainly paid off for many of those who are already established.
Now may be the ideal time to make a property investment. With the current conditions continuing to benefit buyers and sellers alike, it is worth taking the time to research which postcodes of England and Wales may be the most profitable. The results, it appears, could prove highly rewarding.