According to Astute Property Search, this is driving ordinary people to seek support from buying assistants, who can help and navigate a highly competitive market.
The shortage of homes has meant that people are now paying above the asking price to be able to secure the property they desire. Current research suggests that the average asking price for a property that has just come onto the market in Britain has risen by a record 2.3% in February. In comparison, the asking price for houses has gone up by 9.5% over the last 12 months.
This is being driven by a lack of stock that is causing prospective buyers to up their bids from the off, which is also causing a rise in properties being bought off-plan, with many making an above asking bid to make sure it never even makes it to market and a potential bidding battle.
Matt Turner, Founder of Astute Property Search, comments: "The comprehensive knowledge I have of the property market, matched with my experience ensures that I give my clients the best possible deal. Also, the relationships I have built with estate agents and property professionals ensures that my clients will be one of the first to see new properties and puts them in line for one of the first viewings too’.
"Buying agents like Astute Property Search can help to uncloud a confusing market. Finding a property can be time-consuming, complex, and challenging. Our knowledge of the market highlights previous prices for a similar sized property in the same area, so we can be sure you aren’t paying above the odds."
With the ever-increasing imbalance of people wanting to buy properties and these being available to buy on the market; the prices for these houses are on the increase and furthermore are showing no signs of slowing down.
Matt concludes: "Buying agents are the perfect solution for those in need of buying or moving somewhere but are wary of paying too much or not finding exactly what they want."
