Steady Summer Market in the South West – Price Realistically to Sell

As we settle into the warmer months, Malcolm Prescott, Managing Director of award winning estate agents Webbers, confirms that the South West housing market remains remarkably steady. However, with choice plentiful for buyers, sellers must be prudent when setting their asking price.

“The market here in the South West has been pretty stable as we enter the summer months,” says Malcolm Prescott. “Available stock is still high and well up on this time last year, with demand lagging – and therefore, buyers have plenty of choice. In these conditions, it is vitally important that home sellers set a realistic asking price from the start.”
 

Buyer Activity and ‘Green’ Incentives

Webbers’ own figures show that buyer activity is holding firm across all price brackets, but purchaser expectations are evolving.

“Our viewing to sale ratio is now 10:1,” Prescott explains, “and there is interest across all price sectors – especially new homes, where A/B EPC ratings support ‘green’ mortgages that carry discounts and cashback incentives. These schemes are really driving traction in the more energy efficient segment of the market.”

You download our helpful Green Mortgage guide here 

National Headlines Mirror Local Trends

Halifax’s latest House Price Index describes the UK market as “steady,” reporting flat average prices in June following a modest 0.3% dip in May. Year on year growth slowed to 2.5%, with the average UK property now at £296,665.

In the South West, growth is more subdued at just 0.5% annually, reflecting a trend of price sensitivity and greater choice for buyers. Amanda Bryden, Head of Mortgages at Halifax, commented:
“The market’s resilience continues to stand out… with more buyers returning to the market. That’s being helped by rising wages, stable interest rates and greater lender flexibility.”

Industry leaders are echoing these sentiments, highlighting improving affordability, rising mortgage approvals and government backed initiatives to boost housing supply as positive drivers.

Advice for Sellers

Malcolm Prescott’s parting advice for anyone considering a sale this summer is straightforward:

1.    Price properly – Overpricing at launch can deter interest and lead to longer time on the market.
2.    Present impeccably – First impressions count. A well staged home not only photographs better but also helps buyers imagine living there.
3.    Be realistic – Understanding local market dynamics will save time, stress and potentially avoid price reductions later on.

“While it’s not a runaway market, it is certainly a functional and fair one for those who are well prepared,” Prescott concludes. “With stock levels high the key to success is pricing right, presenting well, and being realistic from day one.”