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The Isle of Wight property market has seen phenomenal highs for the past few months. The average price for property in Isle of Wight stood at £302,933 in June 2021!
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High sales volumes are eroding the supply of homes for sale, with stock levels down nearly 30% in April this year compared to the same period in 2017-2019 in the UK. The island specifically its around 45%. The demand/supply imbalance is increasingly focused on family houses. The value of new homes sold in the first 15 weeks of 2021 was double that in the same period in 2019. Annual price growth in the year to March continues to outperform in regions where homes are more affordable.
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It's a great time for sellers, with record levels of buyer demand pushing the average price of a new property up by 0.8% last month.
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The Government has proposed a series of broad reforms to the leasehold property market that could benefit millions of leasehold owners, by permitting leasehold owners, to extend existing leases for up to 990 years with zero ground rent as well as adjusting the economic mechanism by which lease extensions are calculated.
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Having an understanding of ways to aid your house sale is very important as it can ensure you sell your property in minimal time as well as achieving the most desirable value too.
Follow our 8 key steps to help achieve the best value for your home.
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