May, 2022
When you are buying and selling properties, understanding more about the local market place is crucial.
Below is a round up the property market in Solihull in April.
With the conveyancing process continuing to remain incredibly slow, many properties which were due to complete this month have failed to do so.
As demand remains high and available stock remain low, the process often slows down due to the disruption caused to the upward chain. When conveyancers are dealing with a high level of transactions this means they have more “open files” to deal with. This can often slow up the process so our advice to anyone who is getting frustrated with the property market in Solihull at the moment is to plan ahead and make sure you are keeping on top of your paperwork!
Due to the Easter holidays, activity dropped slightly. Less people were booking valuations and subsequently less instructions. Since the schools have returned, we have seen an increase in activity again.
We expect to see an improvement on activity throughout May and properties completing to be high.
As general household expenditure has increased, this hasn’t seemed to slow the market down. We will keep a close eye on this and analysis this closer to the next increase which is due in October 2022.
Now is a great time with many properties receiving multiple viewings and multiple offers, and in many cases, sales are agreed for significantly more than the asking prices.
HS Homes of Solihull is a small independent estate agent based in Shirley, Solihull. If you are interested to know what your home is worth, call us on 0121 430 4448. Alternatively, click here to book a free market appraisal.
