There’s no shortage of Exeter and East Devon homeowners looking to move – want to know how to find them? – before their properties are snapped-up by cash rich out-of-area buyers
It’s been called the ‘Supply Crunch’ (the Oxford English Dictionary defines this as: a period during which the supply of a particular product is lower than the demand for it, leading to higher prices)
Well, there is no doubt that there is a shortage in supply of fresh properties coming to market here in Exeter, Topsham and East Devon – but here at Wilkinson Grant & Co we can report that WITHOUT QUESTION there is definitely no shortage of local homeowners looking to sell.
Since the start of the pandemic OVER 1,950 local home owners have asked us to value their homes, with a view to move – Over 200 since the start of the year. Having sold over £458M* worth of property in that time – including 47 houses priced over £1M in the last year alone – some who didn’t instruct us, sadly, under sold. The majority chose to hold-off moving home.
Some were hesitant about Covid-19, many have been shocked about house prices but far and away the vast majority of otherwise keen would-be homes movers have fallen victim to the ‘supply crunch’ and found it almost impossible to find a house to move on to.
Now that Covid-19 restrictions are set to be lifted and the green shoots of spring are upon us, (many might say both, prematurely), there will certainly be more properties coming to market. In fact, at Wilkinson Grant we are seeing it already but with demand from out of-area cash-rich buyers with nothing to sell competing with eager local buyers, everything that comes to market is being snapped-up. Some at as much as 25% more than they might have fetched less than eighteen months ago.
So, if you live in Exeter or East Devon and are looking to move but can’t find anywhere to buy, what’s the answer?
How can you find the properties that have yet to come to market before they come to market?
Well the first thing NOT to do is to instruct an agent who says “The market is incredible” “There are a huge number of buyers who will pay an incredible price for your house “ or , “This will sell to the first people that come through the door”- Selling your home is not the problem here – it’s finding and securing your next home whilst getting the best price for your current one.
What is the best thing to do?
Instruct an agency with a trusted reputation for putting local sellers right, front and centre of everything they do. An agency with a reputation – verified by Rightmove and Zoopla and acknowledged by the 2022 Best Estate Agents Awards for delivering outstanding results but most importantly a proven track record as acquisition specialists – a local family run estate agency who for over 25 years have helped thousands of local home movers achieve the best results – whatever the market conditions.
If you are looking to move, wherever it might be in the UK, Wilkinson Grant & Co have the knowledge, experience, ability and connections to not only sell your property, for the best price but also to help you find and secure your next home – and have a team of experienced professionals to guide you through the process every step of the way.
- For more details of our search and acquisition service click here
- Planning to move but not quite ready to come to market? click here for how to get your ‘ducks in a row’
*sale agreed, exchanged and completed properties March 2020-Feb2022