Love is in the air for homes in our local area

As Valentine’s Day fast approaches, love is in the air across our local property market, according to the latest data from PropCast. The house selling weather forecast examined the percentage of homes for sale that are under offer or subject to contract in January 2023, to see which properties were located in a hot sellers market where it’s easier to sell, and which were in a cold buyers market where it’s harder to sell. 

Analysing buyer demand across Oundle, Rutland, Stamford, Lincolnshire and Northamptonshire, PropCast revealed that all of these locations are in a hot sellers’ market still. This means buyer demand is still going strong, suggesting the market is stable despite initial concerns of a looming property crash. Northamptonshire recorded the highest market heat temperature at 50° meaning 50% of homes for sale are currently under offer or subject to contract, followed by Rutland (45°), Stamford (45°), Oundle (45°) and Lincolnshire (37°). 

LocationMarket Heat Temperature – January 2023 Type of Market
Northamptonshire50°Very hot sellers’ market 
Rutland45°Hot sellers’ market
Stamford45°Hot sellers’ market
Oundle 45°Hot sellers’ market
Lincolnshire37°Hot sellers’ market
Source: PropCast Feb 2023

This is really encouraging news for local homeowners who may be hesitant about bringing their home to market due to all the recent doom and gloom. That said, sellers still need to be realistic about their asking prices, as buyer demand has dipped slightly over recent months. This is to be expected though, given increased interest rates which have impacted mortgage re-payments for some. Plus, it’s important to remember that the extreme level of activity we all witnessed throughout the various lockdowns could never continue at that pace forever – house prices were always going to stabilise. Confidence is slowly returning to the market however, as buyers realise that the situation isn’t as disastrous as they initially thought in terms of a potential recession and house price crash – and sellers are realising this too.

At both our Fine & Country offices, we have seen the market pick up substantially this year. Good quality homes are holding their value, so as long as you price your home correctly by listening to the advice of a good honest estate agent, and have somebody on board who is implementing a coherent marketing strategy, then you stand a very good chance of selling quickly and for the best possible price.

Considering selling? 

If you’re considering selling, now could be the best time to be putting your house on the market. Contact our Rutland, Stamford & South Lincolnshire office on 01780 750 200 or the Oundle and North Northamptonshire office on 01832 808 008 for more information about how we promote homes to the widest possible audience with our award winning marketing services, and/or to arrange a no obligation market appraisal. 

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