Flintshire house prices are rapidly rising and there doesn’t seem to be any signs it’s going to slow down any time soon. 

Why? Its simple - supply and demand. We had record number of buyer registrations in quarter 4 of 2021 and when I looked on Rightmove in December in Connah’s Quay there were only 12 properties for sale! In a town of 19,000 houses! So it was always inevitable that house prices would continue to rise. Usually in December houses coming to the market drop dramatically because of Christmas. Over the next few months Jan, Feb and March you’ll see far more properties come on the market so maybe come the spring things will start to even off a little in terms of buyers to available houses for sale. 

The only thing that may hold that up is the worry of not being able to find a suitable property if your house is sold quickly. If you really start to think about it though, this is a “man-made” problem!! If everyone thought this, nothing would ever come on the market. I often come across this situation but I always advise that we can cherry pick the right buyer for you these days and make sure we find someone who is willing to give you time to find your dream property. Only last week I had someone that had tried to sell last year with another agent and couldn’t find a suitable house. We sold his in under a week to someone that was willing to wait and low and behold his dream property came on the market the next day and due to him being in a position to buy he offered immediately on it and secured the house. It doesn’t always work out like that but if you don’t put yourself in that position you’ll continually miss out. 

Right now is the time to look to market your home  - while there is still low stock and huge demand. This week alone we have put six houses under offer. I can’t say which ones they are as this information is confidential until completion but I can give you these stats….

House 1 - Under Offer in 5 days - 109% of asking price achieved. 

House 2 - UO in 8 days - 105% of asking price. 

House 3 - UO in 8 days - 110% of asking price.

House 4 - UO in 28 days - 100% of asking price. 

House 5 - UO in 32 days - 110% of asking price.  

House 6 - UO in 14 days - 112% of asking price. 

This is absolutely phenomenal especially taking into consideration most agents run on average at around 97% of their asking prices.

What I am seeing at present is multiple buyers for each property we market and many situations where buyers end up having to bid against each other to secure the property. Due to the huge success of our registration system - heads up property alerts we now have thousands of buyers registered in our system and very often the house is sold within a week, without it even hitting Rightmove. If I put a 3 bed semi into our system in flint for example we’ll have over 600 matched applicants to that property. Very often we’ll have 4/5 viewings lined up in the pre-marketing period prior to the house being listed on Rightmove. 

 

So how long will this last? I am predicting that for the next few months at least, house prices will continue to rise. You may well get a levelling off come the summer as more and more houses come to market and the demand starts to balance out. Long term there’s no way the market can continue rising at this rate as it's unsustainable. Anyone hoping for house prices to come down though is in for a very long wait. I really don’t think house prices will start dropping as the buyer demand is still very high. If anything I think we’ll see more of a levelling off rather than prices falling.

 

There’s no time like the present to put your house on the market as you’ll be taking advantage of the low stock, high demand situation. For our valuation options click here.

Regards

Ben Roberts

Managing Director