Housing market update

The housing market is subject to fluctuations and can vary depending on various factors such as the economic condition of the country, changes in government policies, and demand and supply.

As the Managing Director of Abshot Estates, I have seen the Hampshire housing market go through various changes over the years. In particular, the SO31 and PO14 postcodes have experienced a significant shift in the housing market recently. With the cost of living increasing and interest rates on the rise, house prices in the area have fallen, making it an ideal time for buyers to enter the market.

For homeowners looking to sell their property, it’s crucial to price your home correctly from day one. With the current market conditions, a property that is overpriced will sit on the market for longer than necessary, which can be detrimental to the sale. As an experienced estate agent, I cannot stress enough the importance of pricing your property realistically from the outset to maximize its potential sale price. In addition to pricing, the presentation and marketing of your property are also essential factors to consider. Professional photos, floor plans, and virtual tours are all tools that can help to showcase your home in the best possible light. By working with a skilled estate agent, they will be able to advise you on how to present your home in the most appealing way to potential buyers, to help you achieve the best possible sale price. At Abshot Estates, we pride ourselves on being a dedicated agent with vast experience in all types of markets. Our agents have worked in the industry for many years and have seen it all before.

We take an active, hands-on role in your move, from advising on the correct price for your property, to developing a tailored marketing strategy that will showcase your home to potential buyers.

We also understand the emotional aspect of selling a property, and our agents work closely with you to ensure that the process is as stress-free as possible. Our team provides regular updates and feedback, so you are always aware of how your property is performing in the market.

Some estate agents may choose to overprice a property in the first instance to win the listing. One of the main reasons is to impress the seller with a higher estimated sale price, which can lead to the agent securing the listing over their competitors. Some agents believe that by offering a higher estimated sale price, they can make the seller feel more confident about their property’s value and increase the chances of getting the listing.

It’s not uncommon for some estate agents to try and second guess what another agent may have valued a property at, and then attempt to match the inflated price to win the business. This strategy is based on the assumption that if one agent has overpriced the property, then other agents will do the same to compete for the business.

While this strategy may work in the short term, it can be problematic in the long run. Overpricing a property can lead to it staying on the market for longer than necessary, which can be frustrating for the seller and may harm the agent’s reputation.

Additionally, if multiple agents overprice the property, it can create a false impression of the property’s true value. This can lead to potential buyers becoming disinterested in the property and may result in it selling for less than it would have if priced accurately from the outset.

At Abshot Estates, we believe in valuing a property based on a comprehensive analysis of the local housing market and current market conditions. Our agents have vast experience in valuing properties accurately, and we use a range of tools and resources to determine a realistic sale price. By providing our clients with accurate valuations, we aim to help them sell their property for the best possible price in a timely manner.

Furthermore, we offer a range of additional services, including mortgage advice, conveyancing, and removals, to make your move as seamless as possible. Our goal is to help you achieve your property goals with the least amount of hassle, while ensuring that you get the best possible price for your property.

In summary, the current housing market conditions in the SO31 and PO14 postcodes make it an opportune time for buyers to enter the market. For sellers, pricing, presentation, and marketing are critical factors to consider when selling your property. At Abshot Estates, our experienced agents can guide you through the process, providing a range of services to help you achieve your property goals.

Jack Jowett

Jack Jowett | Managing Director