Competition among buyers is fierce

Share this article
Picture: Shutterstock

LETTER OF THE DAY: God bless women!

Have your say

Local estate agency Fox & Sons in Waterlooville is pleased to report a rise in interest from home owners in putting their properties on the market.

According to figures from Fox & Sons parent company, national estate agency network Sequence, in the first seven months of this year there has been a 14 per cent increase in prospective sellers requesting an appraisal of their home from its branches, as well as an eight per cent increase in the number of homes it has been instructed to sell.

There are, however, still six buyers chasing every property which becomes available meaning competition among buyers is fierce and more homes are needed to meet demand.

‘It is very encouraging that more home owners, probably spurred on by rising house prices and the huge number of buyers out there, are taking steps to sell their home,’ says Fox & Sons Branch Manager Amie Barton. ‘As part of our national network, we have recorded a 10 per cent increase in sales as buyers scramble to secure property in an increasingly competitive local market.

‘In order to maintain a healthy housing market we need to see a greater supply of homes becoming available to buy,’ Amie continues. ‘This is good for buyers who will have greater choice and should help promote sustainable house price growth rather than a boom and bust cycle which restricts buyers and sellers at every level of the market.’

If you have a property to sell and would like to book a free market appraisal with Fox & Sons in Waterlooville, please call (023) 9226 2447 or email: