Sales Market Update

Paramount Properties

Sales Market Update 

"In the current market dynamic, we've noticed a distinct trend: flats priced appropriately are swiftly finding buyers, whereas those priced ambitiously tend to languish on the market.

The presentation of the property plays a pivotal role in generating interest. Well-presented flats attract offers promptly, particularly given the backdrop of escalating living costs. First-time buyers, in particular, exhibit a strong preference for properties that require minimal renovation, prioritizing immediate occupancy.

As a result, the extent of renovation required significantly influences their offer considerations.

Additionally, we've observed a notable increase in sellers seeking to transition to properties of varying sizes, with outdoor space emerging as a significant factor. This heightened demand aligns with an evident surge in buyer activity. Many potential buyers had been holding off, awaiting greater clarity on the direction of interest rates.

However, with growing confidence in the interest rate trajectory, they are now actively engaging in buying. This has also affected sellers' decisions, as many are looking to port mortgage rates on their onward move.

- Jamie Jacobs, Sales Consultant.