Perfect time to sell home – RICS

THE Royal Institution of Chartered Surveyors says that now is the ideal time to sell a home in the North West to be in with a chance of gaining a strong offer or even an increased price.

This news comes as findings from the RICS’ recent residential market survey revealed that house price growth increased again in June, with 53% more of the North West’s surveyors reporting an increase in asking prices.

The reason for this is the lack of stock, which the survey discovered is at the lowest it has been since the data series began in 1978.

RICS North West residential spokesman, John Halman of Gascoigne Halman estate agents said: “July and August are often regarded as the ‘holiday season’ as there is a lull in activity due to the short supply of quality homes coming on to the market. Sellers should take full advantage of the fewer instructions coming to the market and the rising house prices – they may be pleasantly surprised at the response they get.

“Buyer confidence is running high and in the current market. It’s not uncommon for vendors in popular areas to find themselves in the fortunate position of having multiple interested parties, resulting in sellers gaining a strong offer or even an increase in their asking price.”

The RICS – which sets standards in the land, property and construction sectors – says that if current trends continue – with less homes coming on to the market – prices will continue to edge higher and homes in some areas may become unaffordable.

RICS chief economist Simon Rubinsohn added: “The RICS lead indicators do provide some encouragement that the level of housebuilding in the North West will increase over the course of this year but even with these additional developments, the volume of home starts in the region will still fall well short of the homes needed, let alone make a dent in the historic shortfall of housing across all tenures.”