Property News – Why Pricing Matters More Than Ever
As summer comes to a close, it’s a great time to take stock of how the local property market is performing.
Despite wider economic uncertainty, the market in our region continues to show resilience, with both supply and demand holding steady. Sellers remain confident, and buyers are still actively looking — which is resulting in healthy levels of sales.
In fact, sales are up 4% compared to the same time last year, a clear indicator that our market has maintained strong momentum. But when you look more closely at the different property price brackets, an interesting trend emerges: the success rate for selling a home varies significantly depending on the price band.
The Success of Homes Under £250,000
The most active section of the market remains homes priced under £250,000. Here, the sales rate is currently an impressive 90%. To put it simply, for every 10 homes listed, 9 are finding buyers. This is a strong sign of robust demand among first-time buyers, investors, and those looking to make the next step on the ladder.
With such a high success rate, it’s fair to say that well-priced properties in this bracket don’t stay on the market for long. If you’re thinking of selling a property under £250,000, the conditions remain very favourable.
Middle Market: £250,000 – £500,000
In the mid-range, covering properties between £250,000 and £500,000, sales remain strong but with a slightly lower success rate of 74%. This still represents a healthy market, showing that buyers have confidence and are prepared to commit at these values, provided the property offers good value for money.
For many homeowners, this is the price bracket where competition between sellers can increase. A clear marketing strategy and realistic pricing make a big difference in ensuring your property stands out.
The Challenge for Higher-Value Homes
The picture shifts more noticeably as we move into higher price bands. For homes between £500,000 and £750,000, the sales rate drops to 53%. Properties between £750,000 and £1,000,000 see this figure fall even further to 43%.
These figures demonstrate a key truth in today’s market: the higher the property value, the smaller the pool of buyers. While demand certainly exists at every level, the competition among sellers in the premium market is much stronger.
Why Pricing Accuracy is Critical
One of the biggest lessons from this data is the importance of accurate pricing. A lovely home will always attract attention, but if it’s overpriced, buyers are unlikely to bite. This is especially true in the upper price brackets, where the pool of potential purchasers is more limited.
That’s why we always recommend challenging your estate agent to provide clear evidence when suggesting a valuation. A realistic price, backed by local market data, will give you the best chance of achieving a successful sale.
How We Can Help
Whether you’re selling a home for £50,000 or £2 million, we’ve got the experience to help you move. Our team is on hand every day of the week from 8am to 8pm, ready to offer advice tailored to your circumstances.
The current market offers opportunity at every level — but pricing your property right is the key to unlocking it. If you’re planning a move this year, we’d be delighted to help you take the next step.
