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Market update July 2021 - high demand/lack of supply continues

Date Added 16/07/2021

Latest statistics issued by home.co.uk in their monthly house price index are mirrored exactly in the market around Marlborough, namely;
The tapering of the Stamp Duty holiday is having no apparent calming effect on the market. In fact, the pace has quickened as buyers feverishly mop up the little sales stock available: Typical Time on Market for unsold property in England and Wales has fallen further to a mere 73 days (the lowest July figure since 2007).
• Asking prices across England and Wales continue to rise overall as demand continues to overwhelm supply, adding another 0.6% since last month, although the annualised average has slipped to 8.0%.
• Monthly supply remains vastly below normal expectations in all regions (-32% compared to
June 2019). The South West is worst hit by scarcity (-44%) while Greater London, in contrast to all
other regions, shows supply is only slightly below expectations (down 4% compared to June 2019).
• The total stock of property for sale in England and Wales has fallen again to a new low of 273,531, 34.6% lower than in June 2020 and 43.4% less than in June 2018.

With the biggest mailing list ever of buyers registered with us, new properties to the market are attracting great interest, but more are required. Bungalows in villages with facilities, properties with work from home space and properties with land/views remain particularly sought after.

Pictured is a town house in Maurice Way, Marlborough, coming soon with a guide price of £400,000.
 
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