Welcome to the monthly Property Market Update from Harrisons Homes. We’ve seen a very busy start to the year and things are looking bright for both buyers and sellers in our area. So when you read stories in the press or online about the housing market it's good to remember that what's happening now is a return to more normal pre-pandemic situations rather than a drastic headline grabbing downturn. Even so, the latest data from Rightmove surprised many as it shows buyers are returning in large numbers and the picture is far healthier than expected. We're here to let you know how this all impacts the market on a local level. Get in touch and find out how we can help you.

Buyer demand is strong locally and the new Rightmove data shows this is happening all over the country. Across the UK the number of people contacting agents looking for properties was up 11% in recent weeks compared to the same period in the pre-pandemic 'normal market' of 2019. However, available properties to buy nationwide are down by 24% compared to the same period, meaning 'supply and demand' is still in favour of sellers.

The supply of homes for sale may be down in comparison to before the pandemic but the good news for buyers is that there are now 48% more to choose from than there were this time last year. The most up to date 'sales agreed' figures also show that the first-time buyer sector is performing well, outstripping demand in the upper-end higher price sector. This could be due to average mortgage rates coming down, with many lenders offering lower five year fixed deals, with high street names such as HSBC and Yorkshire offering rates below 4%. This is in stark contrast to the 5.90% average only a few months ago in October. You can see our range of properties here

People tend to stick with the same things because it's sometimes hard to switch. That's why some sellers stay with an agent who hasn't put up that 'sold' sign in the timeframe they promised they would. Read our blog to see how it's actually quite straightforward to change to a new agent, and if you've been on the market for a while with no luck hopefully we can show you that 'luck' really shouldn't come into it - it's all about your estate agent's hard work!

Our owner Chris Ellis is the one of the star guests on the latest Estate Agency X podcast episode 'Working Smarter, Not Harder: The Key to an Estate Agency Owner's Success in a Digital Age'. It's a bit of long a title but it explains how Chris, Iceberg Digital's Rob Brady and Liz Jeffery from Shore Way Marketing expertly discuss how a modern local estate agency uses new technology. We're here to help if you're selling, buying or both. Email hello@harrisonshomes.co.uk, call on 01795 474848 or pop in to the office at 2 West Street in Sittingbourne and we can have a chat.

All the best

Chris & the Harrisons Homes team