With demand for property outstripping supply according to a recent RICS survey, is now the best time to go live on property portals and list your Solihull home for sale? And how likely is your home to sell successfully, and quickly? We’ll be considering whether now is the best time to sell your Solihull property by diving into the local market, and exploring what makes the region so appealing to purchasers.
The Solihull property market is experiencing a surge in both achieved sale prices and time spent on the market. Detached homes in the region took an average of 148 days to sell in April 2021, which has now reduced by a whopping 61%, with similar houses staying on the market for only 57 days. Solihull even bucks the trend of winter property stagnation, with terraced properties across the region selling fastest in December, a truly impressive feat that wasn’t experienced elsewhere across the West Midlands. This is likely due to Solihull’s close proximity to Birmingham, whilst still maintaining its own distinct charm and offering much better value for money. Detached homes in Solihull are currently reaching an average price of £590,885, whereas the same style of home in Edgbaston would set movers back a huge £817,774 on average.
What’s more, the rental market in Solihull is booming, providing a feasible alternative to those who are a little more dubious about upping sticks entirely. Our expert Lettings Team at Centrick are happy to provide rental valuations to consider alongside your sales valuation, allowing you to make the most informed and suitable choice.
It’s the classic ‘chicken or egg’ scenario: should I buy to sell, or sell to buy?
Simply put, home movers should be considering listing their existing property prior to securing their ongoing purchase. Not only will having your current home SSTC mark you as a serious buyer, but it can assist you in budgeting for your next home and makes you a much more appealing prospect to the owners of your next property. It may even help you stand out from the competition in the event of a bidding war between yourselves and any other prospective purchasers. Furthermore, with house prices rising rapidly by 9.6% from 2021 to 2022, it makes the most financial sense to sell prior to buying to get the most for your money – just make sure you don’t wait too long between your sale and purchase so you can maximise your funds.
At Centrick, our wealth of experience is sure to get you ‘Sold’, and fast! With our extensive advertising on Rightmove and Zoopla, our noticeable window displays on Solihull’s busy High Street, and our award-winning team, we’re well equipped to find you a buyer before you secure your next home.
Considering the encouraging market trends we’ve outlined, paired with the investment which is flooding into the region, properties in Solihull are set to become increasingly popular. The ambitious Solihull Local Plan is expected to encourage an influx of new residents into the area due to its fantastic job opportunities, creating growth across the region that’s sure to boost confidence in the property market. Similarly, the M42 Economic Gateway could “create over 36,000 additional jobs by 2026 and add £5.9bn to the West Midlands economy”, which will sustain the local Solihull economy and drive employees and their families into the region. In short, we can anticipate Solihull property to become increasingly sought-after in the coming years, making the region a prospective hotspot for investors and new residents.
Solihull Council has also taken steps to make the property purchasing process as streamlined as possible. The council claim that their changes to land charges ensure that buyers are able “to make an informed decision about the purchase” of their next home or investment, and could even help save time and funds. Paired with the increase in opportunities and investment in the area, you can expect your Solihull property to do well on the market.
Centrick’s established and award-winning team of property experts is here to guide you through the sales process, from valuation to completion. Contact our team using the form below to start your journey towards ‘sold’:
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