September was another busy month for Hair & Son Leigh-on-Sea with demand continuing to outstrip supply resulting in high volumes of enquiries, activity and sales.
We have seen prices remain firm throughout the summer and with the recent report from Nationwide confirming that house price growth for the year is at a surprising 5%, with a monthly increase of 0.9% this trend looks set to continue throughout the Autumn.
Strongest demand locally is for three bedroom homes in Leigh-on-Sea priced between £450,000-£600,000. We have had 32% more buyers register in search of these types of properties than any other and homes that fall within this category are selling extremely rapidly and for, on average 98.7% of their asking prices.
Unsurprisingly, the most requested areas within Leigh-on-Sea have been for south of the London Road, close to the Station & Broadway interestingly though, there is a rapidly growing demand for homes with larger plots on the outskirts of the town. Looking deeper into this trend, we can see that this demand is mainly coming from buyers looking to move out of London, something that has been happening for many years but fuelled further by lockdown and the realisation that London is no longer a place many homeowners want to be.
For sellers in Leigh-on-Sea this is all excellent news. Huge demand from London buyers has always meant rapid and consistent house price growth here and with a huge increase in demand from this demographic, this can only mean that further growth is likely. Furthermore the Government stamp duty holiday and the lowest interest rates in living memory are all major factors in pushing the local housing market towards a very strong final quarter of 2020.
If you are considering selling a property in the Leigh-on-Sea, Hadleigh, Benfleet or surrounding areas we would love to hear from you. Why not contact us to arrange a Free, no obligation valuation of your home on 01702 470066.