For Sale and Sold Boards: How to find out what's happening in your local property market

publication date: Jun 7, 2012
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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For Sale and Sold Boards:
How to find out what's happening in your local property market


When you want to have a good idea of what's happening in your local market, as long as there are no restrictions in your area, working out how many properties are for sale and sold, and comparing this to historic data can really help. 

Counting boards is something which agents often use to measure their own local market share. However it's an incredibly useful way of working out whether it's going to be easy or difficult to buy or sell a property in your market. 

Three steps to work out if it will be easy or difficult to buy or sell a property

Follow our easy steps to put you in control of the buying and selling process in your local area.

Step One: Work out what's happening in the general market
Find a road near to you which has at least 30 properties on it. Look to see how many are for sale and how many have actually sold. If five properties out of 10 for sale are sold, then 50% of properties are sold.

  • If more than 40% of properties are sold versus for sale: Selling should be easier; buying may be more difficult
  • If around 40% of properties are sold versus for sale: It is likely to be easier to sell and buy a property
  • If less than 40% of properties are sold versus for sale: Selling will be more difficult; buying may be easier

Step Two: Work out what type of property you are buying or selling
Especially since the credit crunch, we are seeing some properties holding their value and selling fast and some which are taking a long time to sell and have falling values. 

It's important to work out what type of property you want to buy and/or sell. For example, you could define your property type as a three bed 1930s semi to sell and want to buy a four bed character property.

Step Three: Repeat Step One for your property type
Now you have an idea of the general market, it's a good idea to check how many properties similar to the one you want to buy and/or sell are for sale versus sold.

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