A tool which analyses market conditions to help homeowners identify how quickly their home will sell has generated a list of the top property hotspots in England and Wales.
According to Propcast’s house selling forecast, the Dorset postcode of BH17 is August’s ‘hottest’ property location and has been named as the best place to sell this month
It has been given a reading of 74 degrees on the England & Wales Top 10 Property Hotspot Report, but is closely followed by three Birmingham districts – B25, B67 and B42 – as the best sellers’ markets at the moment.
The Bristol and Somerset postcodes of BS3 are next on the list, followed by Greater Manchester’s M32, Bristol’s BS5 and Romford’s RM20. Ninth and tenth places go to Birmingham’s B44 and B34.
However, anyone can find out how ‘hot’ their area is when it comes to selling properties by going to PropCast via the TheAdvisory website and typing in their postcode. The tool will generate a report which will help potential sellers to find out how quick and easy or slow and hard it might be to flog their home.
By gauging these market details, said PropCast, people can make better decisions about when and how to sell.
Gavin Brazg, creator of PropCast and a professional property seller, reassured anyone whose property has a cold forecast not to be downhearted, revealing it’s still absolutely possible to sell well.
He explained: “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.
Sellers’ market?
“Those sellers 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.”
He added: “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.”
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