IN BOTH Gloucestershire and Oxfordshire the supply of new homes coming on to the market is starting to subside as owners delay offering their property for sale until the new year.
In Gloucestershire the number of buyers is now inching ahead of the number of properties for sale. With a shortage of good quality stock from which to choose, buyers keen to move before Christmas are making offers closer to the asking price. The county reported a rise in prices of 0.5 per cent during October.
Homes in Oxfordshire cost on average £50,000 more than in Gloucestershire. But over the past year sellers have had to endure a large number of viewings before securing a sale. Sellers are struggling to achieve close to the asking price and property values fell over the year. Prices are now static and sales transactions have been boosted over the past two months as buyers and sellers endeavour to move by the end of the year.
In both counties the right price is still the key to attracting a buyer.
GLOS AGENTS SAY:Viewings are slowing and the number of properties for sale is running low. The market is starting to wind down pre-Christmas
Even though there is a shortage of stock, buyers don't think prices will rise much, so they're not rushing into things
A slower market means that Christmas may have arrived early. It is now harder to sell homes
OXON AGENTS SAY:
It is still a bit of a buyers' market. Sellers who have sold have only managed to do so when they have dropped their price
Buyers are quite lethargic — but if they see that other people are showing interest they will even bid over the asking price
Sellers are preparing their homes for the new-year market — but they are more realistic about asking prices now