Pritchard & Company examines the current housing market. New data from Rightmove reveals feverish buyer activity in 2021 and a 225,000 shortfall in the number of homes for sale. There is currently a stark imbalance between supply and demand. Prospective purchasers have the lowest choice of homes for sale ever recorded and asking prices are at a record high, up in all regions compared to before the pandemic.
Rightmove’s Director of Property Data, Tim Bannister, comments: “It’s likely that the first half of 2021 has seen a record number of moves when compared with the first six months of any other year. With the ongoing need for housing, high activity levels despite the June stamp duty deadline now passing, and with residential property prices appreciating better than many other asset classes, we expect positive sentiment to continue.”
With the first half of 2021 seeing 140,000 more sales being agreed and 85,000 fewer new listings than the long term average, this surge in activity has revealed a shortfall of 225,000 homes for sale. Rightmove also reports on factors creating the shortfall:
The ONS reports that the average house now costs £254,624, with this annual growth driven by the stamp duty holiday (which largely ended in June) and a desire for larger homes and outdoor space.
With the continued ease of Covid restrictions there is a general reassessment of what homeowners need from their homes and the search for space will continue to fuel buyer demand. According to Zoopla, some homeowners feel they have outgrown their homes during the past year and are still reconsidering where they want to live. Commuter belts are stretching further out of cities as more businesses are open to flexible working and there is a migration for families to move to more rural areas.
Pritchard & Company anticipates continued demand for quality properties in 2021 on the back of increasing consumer confidence and strong market fundamentals. If you are considering a sale this year don’t delay, we would be delighted to provide you with a comprehensive market appraisal report for your property. This is entirely without obligation, at your convenience, in confidence and at no cost to you. Simply give us a call or send us an email and we'll get in touch to set up an appointment.
When selling our house we were very impressed with the professionalism shown by Robert and especially the speed in which our house was sold. Thanks again and we look forward to using you in the future, should we move on!
Mr & Mrs W.
If you are looking to sell your home in the Cotswolds you should look no further than Robert Pritchard. Although he was acting for the vendor if it hadn’t been for his experience and skill our purchase wouldn’t have gone through. Thank you for delivering our home to us.
Mr & Mrs H.
Many thanks for your friendly and professional help in selling our house recently, we had tried other agents over the course of a couple of years but without success. Your personal service and persistence took the sale to completion in record time – top marks!
Robert was highly effective in selling our cottage in the Cotswolds. It had failed to sell with another agent and he immediately realised that a new approach was required. The result was dramatic and resulted in a quick sale significantly above what the previous agent had estimated. We were, of course, very pleased. He was always very pleasant to deal with. On the basis of our experience I couldn’t recommend him more highly.
Robert has been steadfast in his support to us on the bumpy road to sale completion. Both buyers and sellers can be assured of a high level of service from the experienced team at his young Company to match the quality of the property offer.
Our house purchase has proceeded very smoothly and we thank you for the care and attention to detail which has attended us every step of the way.
Mr & Mrs B.
Pritchard and Company produced an excellent result for us with the buyer exchanging contracts in a timely fashion. As I am based overseas I was especially reliant on an agent working in my best interests and able to go the extra mile. Very pleased.
Pritchard and Company sold our cottage in Spring 2018. It was an unusual property and a lot of work was needed before anyone could move in. It had been on the market the previous autumn with a different agent but failed to sell. Robert Pritchard had a different approach and suggested we spent a little time and money on the cottage before putting it on the market. He arranged for this to be done by very capable people. The cottage and garden were transformed. The first couple to look round put in an offer, which we accepted. From start to finish we felt in confident, safe hands. I highly recommend Pritchard and Company.
May I take this opportunity to express my sincere thanks to you and your team for the excellent service and attention to detail that I received from my initial contact with Pritchard & Company to the successful and seamless completion of the sale of my property. I shall not hesitate to recommend your service to others seeking professional excellence coupled with a personal approach.
Over a number of years, Robert Pritchard has acted for myself and my family. Throughout all negotiations, he has always acted in a highly professional manner, but has gone way above and beyond what would normally be expected. He has offered help and support in all aspects of transactions. I have no hesitation in highly recommending Pritchard and Company.
I must thank Pritchard & Company for being easy and professional to deal with, very efficient in responding to and assisting in enquiries throughout the process, making the purchase of my first home very straightforward.
It has been a pleasure having Pritchard & Company deal with the sale of my property. From their engagement to completion the whole process has moved forward seamlessly which I put down to Robert's professional hands on approach. The rapport he built up with the purchaser in dealing with his questions and anxieties meant the sale moved forward without a glitch. I can honestly say Robert took a great weight off my shoulders and made the whole process stress free … Thank you.
Thank you for working so hard on the sale of our cottage and bringing it over the line.
Pritchard & Company found a buyer for our house in four days at the end of January! Their advice and attention to detail is second to none. We highly recommend them to anyone wishing to sell their home. Huge thanks to Robert, Pip and the whole team, you've been fabulous.
Robert has managed our house sale from beginning to end in a professional manner. We were attracted by his modern approach to marketing our property and as we were often away from the property having the company manage the viewings was really helpful. We were kept up to date with the negotiations and queries relating to the sale. Robert was proactive in ensuring the conveyancing process was completed in a timely manner and we would highly recommend Pritchard & Company to others.
Mr & Mrs G.
I would like to take this opportunity to thank the staff of Pritchard & Company and Robert Pritchard in particular, for the excellent support they have been in the sale of my property. We would not have achieved the sale we wanted without his persistency and tenacity.
Pritchard & Company not only offered me excellent service in the sale of my Cotswold apartment, but were very effective in recommending and organising the right contacts to assist in minor repairs, removals and household clearance. The sale was also very swift and seamless. I cannot recommend Robert Pritchard and his company highly enough .
Robert and his team at Pritchard and Company guided us through to a successful sale. They are friendly, approachable and extremely professional with an excellent local reputation. Their communication was excellent and continuous throughout our sale. We cannot recommend Pritchard and Company more highly - you can trust them to do their best by you.
Mr & Mrs K.
It has been a pleasure dealing with Pritchard & Company throughout the buying process and I will be recommending Robert and his team to anyone that ever crosses my path. Robert has been amazing, sensible, fair and acted with integrity.
I have to say that the service I received from Pritchard & Company was exceptional. Robert was always at the end of the telephone and was able to move things along by liaising with all parties and for that I am very grateful. I would definitely recommend Robert and the service Pritchard & Company provides.
I want to thank Robert and the team at Pritchard & Company for all their efforts and support in selling our property. We have really appreciated Robert’s ability to help and advise on all aspects of marketing the property and for recommending tradesmen, gardeners and cleaners where needed. It has been clear throughout that nothing was too much trouble. Robert’s calm advice, wealth of experience and tact in dealing with negotiations has also been invaluable .
Mr & Mrs G.
We used Pritchard & Company to project manage a fairly extensive refurbishment of our apartment in a Listed mansion building. We were exceedingly happy with the way the project went, with Pritchard & Company's understanding of the intricacies of a Listed building and with their record keeping and update provision. They sourced suitable and skilled contractors, managed quotations and then kept control of the works and costs during the period of work. We would certainly recommend Pritchard and Company to anyone planning a similar refurbishment .
Mr & Mrs S.
The sale of our property was professionally and expertly handled by Pritchard & Company and Robert in particular paid close attention to all details to ensure that the purchaser and ourselves were kept up to date every step of the way, in fact Robert definitely went the extra mile. We decided to use Pritchard & Company after both a local and national estate agent had failed to generate any interest or viewings of our property. We would have no hesitation in recommending Pritchard & Company to sell any property, large or small.
Mr & Mrs G.
Over the last ten years Robert Pritchard has successfully sold a number of properties for us. He is professional, honest and very easy to deal with. He has a straightforward, refreshing manner and above all else, really understands the job.
Mr & Mrs W.
A big thank you to Robert for all his help and support with our property purchase. We are convinced without his involvement this purchase would not have happened. It is even more remarkable considering he was the selling agent and we were the purchaser. He truly went above and beyond for his client but also worked with us as the purchaser on helping to move the chain along which he achieved with good grace and perfect customer relation skills. We would have no hesitation in using Pritchard & Company in any future sale of a property and also to recommend them to anyone else looking to buy or sell a property in this area.
Mr & Mrs W.
I would like to thank Robert for his invaluable help with the successful sale of my house, which was not a straightforward sale. I will definitely be using Pritchard & Company if I need to sell another property.
A huge thank you to Robert for getting us over the line with the sale of our commercial property. It has been the hardest sale we have ever been through and Robert’s work has been very much appreciated. He kept both buyers and sellers calm in a tricky situation and did so with great aplomb.
Mr & Mrs A.
“I am very grateful to Robert for his great help in successfully selling the red brick barns at my farm in Worcestershire, in addition to selling the farmhouse. I would definitely recommend Pritchard & Company for the sale of a property.”
Pritchard & Company are a great team to work with and kept me up to speed from start to finish. Robert is exceptionally knowledgeable about achievable sale prices throughout the Cotswold villages and beyond and he was very helpful with my purchaser. Strongly recommended.
We wish to express our appreciation to Robert for his professional help throughout the sale of our property. We have received first class service and patience. We have no hesitation in recommending Pritchard & Company to future clients.
Mr & Mrs C.
We would like to take this opportunity following the successful sale of our barn conversion to express our thanks for the excellent service provided by Pritchard & Company during the very difficult lockdown period. Throughout the whole process Robert acted in a professional and supportive manner which helped us enormously through a stressful period. We have no hesitation in recommending Pritchard & Company to others.
Mr & Mrs C.