According to the new house selling weather forecast, PropCast, Dorset’s postcode district BH17 has been named the highest performing location for selling houses this month. As its recent ‘England and Wales Top 10 Property Housing Report’ reveals, a market heat temperature reading of 74 degrees, indicating that homeowners are in a sellers’ market.
Subsequent to BH17, the next hottest postcode districts are B25 (72°), B67 (70°) and B42 (69°) in Birmingham, followed by BS3 Bristol and Somerset (69°), M32 Greater Manchester (69°), BS5 Bristol (69°) and RM20 Romford (68°). Ninth and tenth place is taken by two other Birmingham postcodes, B44 (68°) and B34 (68°).
Meanwhile, London dominates PropCast’s Top Ten coldest postcodes, where homes are in a buyer’s market. The coolest in London is the northwest, seven degrees, followed by WC2 (8°), SW8 (9°) and W2 (9°) in London, L2 Liverpool (9°), SA64 Wales (10°), with the Capital appearing again at SW10 (10°), W1 (10°), SW5 (10°) and SW7 (10°).
By establishing where’s ‘hot’ (sellers’ market) and where ‘not’ (buyers’ market), PropCast can help homeowners determine how plausible or not it will be to sell their homes. At a period where conflicting information about the housing market leads to confusion to homeowners, the figures allow people to confidentially identify true local market conditions, make more informed decisions regarding the best ways to sell their homes, and ultimately, achieve better results in less time.
Top 10 Hot postcode districts (Sellers’ markets)
Top 10 Cold postcode districts (Buyers’ markets)
PropCast’s Creator and Professional Property Seller, Gavin Brazg , commented: “PropCast gives everyone 20:20 vision to see what’s really happening in their local property market. Sellers in a cold buyers’ market should not be downhearted because it’s still absolutely possible to sell well. Buyers are out there; they’re just more price and condition sensitive.
The key to success is to identify the homes that are your direct competitors, and then position your home so it represents the best value for money. Meanwhile those in a sellers’ market certainly have it easier as the balance of power is skewed in their favour. This is because there are more buyers than homes for sale. Properties sell quicker and often after a bidding war – as long as the initial asking price is set realistically.
If you are trying to buy in this type of market, get ready to compete against other buyers. Be prepared to spring into action the moment a property you like hits the market, be pre-approved for a mortgage before you make an offer and make your opening offer a strong offer.”