Romford Property Market Review - September 2023
Here’s our September property market review for Collier Row, Rise Park and the Mawneys areas.
There were 64 new properties added to the market in September and this is a slight decrease from August where 78 new properties were added.
13 of those 64 properties were sold in the first 4 weeks of marketing and this is exactly the same as August where 13 properties were also sold in the first 4 weeks.
Less properties have been reduced this month with 31 price reductions compared to 49 price changes in August and this is confirmation once again that both agents and sellers are now far more realistic with their pricing strategy.
We’ve seen 88 new registered buyers this month which is up from 68 last month and 43 of those (so almost 50%) are first time buyers. 24 are chain free with nothing to sell and only 4 had a property to sell with all of them under offer. This shows the importance of having your own property sold when you want to make an offer on a new home as it puts you in a strong negotiating position
Success Story:
A great result for the buyers of a 3 bedroom house in Larchwood Close that we sold ‘on market-off portal’. This home wasn’t available on Rightmove or Zoopla and it highlights the benefits of registering to use our ‘Heads-Up’ alerts which gives access to all new properties at least 3 days before they appear on the property websites.
Conclusion
So overall, we’ve seen a slightly lower number of new properties become available but we have more registered buyers which is what we would expect for September because the schools are back and people start to look for a home to move into before Xmas.
We’ve also seen sellers start to be more realistic with pricing as this is the third month in a row where the total amount of price reductions have been lower than the previous month.
So that’s a summary for September and if you have any questions about the market or even if you’re struggling to sell and you’d like some advice, please get in touch.
If you're thinking of selling your property, there are 3 types of valuation. Click here to see which option is best for you.
If you're struggling to get an offer on a property that you're selling at the moment, click here to see how we could get you the offer you need to get your move back on track.
