Properties in Greater London and the South West are currently receiving the highest number of viewings in the country before they are sold subject to contract (SSTC). This is according to a survey of over 100 estate agents across the country carried out by Move with Us.
The average number of viewings per property in both Greater London and the South West is 13, showing around a 10% increase in a yearly comparison. This is also seven more viewings than the average for Britain which currently stands at six.
Properties in the East Midlands are at the other end of the spectrum, selling after an average of just four viewings. The East Midlands is the best performing region in the country when comparing viewings with offers. Each property in the region has on average four viewings and two offers, making the ratio 2:1. Move with Us said this indicates buyers in the East Midlands are serious contenders, have done their research and choose carefully which properties they want to view before proceeding.
Robin King, director at Move with Us, said: “In fast paced property markets such as Greater London where the average selling time is just 47 days, viewing numbers tend to be higher because there is a large number of potential buyers fighting for a limited number of properties. Rapid selling times mean buyers have less time to make well thought out decisions about which properties to visit and tend to view properties they wouldn’t normally consider as soon as they come on the market. This increases the viewings to offer ratio.
“The ideal situation is for a seller to have a handful of viewings from qualified, carefully selected buyers whose property wish lists are a close match who then go on to make an offer. Receiving plenty of viewings but no offers is the worst case scenario for a seller as this will not achieve the goal of selling the property, will take up lots of time and can be an emotional rollercoaster.
“Viewings cost time and money for both sellers and estate agents. If a property has lots of interest, holding an open day is a great way to help sell it in the current market. They usually get the viewing process over in one day, meaning the seller only has to clean and tidy the property once. The seller can even go out for the day, leaving the property in the capable hands of the estate agent. The heightened sense of competition between the buyers during open days can increase the chances of an offer being made on the property.”
