More choice for buyers is great, but this can mean more work for you.
It’s fair to say we’re kept quite busy at Anthony Jones Properties. We work hard to ensure our vendors go to market effectively, and we do what we can to bring buyers and sellers together in Darlington and Wynyard.
Of course, we also do our best to keep up to date with what is happening across the market. The UK property landscape is changing, with a significant drop in off-market property sales. New research by data analytics company TwentyEA reveals a nationwide trend that could impact how you buy or sell your next home.
The Big Picture
Across the UK, sellers are now 18.3% less likely to opt for off-market sales compared to 2023. This shift signals a return to more traditional, open market strategies. This is something we can assist you with, and we appreciate why many sellers prefer this approach.
Regional Variations
- Scotland: Smallest decrease, with sellers 13.5% less likely to go off-market
- Northern Ireland: Biggest shift, with a 28% drop in off-market likelihood
- England: North East leads the change with a 27.5% decrease
Of most interest to us, and you, is the fact that the North East of England has seen the largest drop-off in this type of property sale.
What This Means for The Market
If you need a quick overview on what this might mean to you, we are here to assist you:
- More Choices for Buyers: Expect to see more properties openly advertised, potentially widening your options.
- Increased Transparency: Open listings often mean more detailed information and fair competition.
- Potential for Better Deals: More open market listings could lead to more competitive pricing.
- Changing Strategies for Sellers: If you're planning to sell, consider the benefits of open market listings in the current climate.
- Regional Considerations: Be aware of your local market trends, as they may differ from the national average.
Why It Matters
This trend suggests a shift towards a more open and competitive property market. For buyers, it could mean more opportunities and potentially better value. For sellers, it highlights the importance of strategic marketing and competitive pricing.
Looking Ahead
As the property market continues to evolve, staying informed about these trends can help you make smarter decisions. Whether you're buying or selling, understanding the current preference for open market listings could give you a valuable edge in your property journey.
Remember, while national trends are important, local market conditions can vary, and no matter what happens in and around Darlington, you can rest assured we will keep you fully informed.
What the people behind the study are saying
Katy Billany is the executive director of TwentyEA, and she said: “Off-market sales gathered pace in the ‘race for space’ during the pandemic which saw waiting lists of buyers snap properties up without them needing to go online in some locations. Last year, the market was slower paced and would have created uncertainty for sellers, with some preferring a few low-key viewings instead of a full-blown marketing campaign which may not have been successful.”
Katy Billany finished by saying: “This year, although more deals are taking place, many sellers have remained overly-optimistic on price despite high interest rates creating headwinds for buyers. We suspect sellers’ price ambitions are driving many to chase the widest possible audience for their property.”
Contact Anthony Jones for all Darlington property matters
If you are looking for help with any matter of the Darlington property market, it is best to speak to property professionals. No one knows for sure what is going to happen next, so we won’t claim to have all the answers, but the Anthony Jones team is keen to help you as best we can. If you would like to contact us over housing matters, please call us today on 01325 776424.
