Is Coulsdon & Purley a Buyers or Sellers Market

Entering the bustling property market of Coulsdon and Purley demands a keen understanding of its current dynamics.

Whether you're eager to find your dream home or ready to part ways with a cherished property, recent data unveils a fascinating surge in property transactions across the UK, including these vibrant towns.

As of April 2024, property sales and listings have soared, reflecting a market brimming with activity. But amidst this hustle and bustle, the burning question remains: is it a buyers’ haven or a sellers’ paradise?

Let's dive into the numbers and trends to uncover valuable insights for both prospective buyers and sellers in Coulsdon and Purley.

Recent data paints a colourful picture of a robust market nationwide. Property sales are up by 10.3% compared to the same period last year, with an impressive total of 377,217 home sales agreed so far in 2024. This surge in activity isn't limited to specific regions; rather, it's a nationwide phenomenon, with every UK region experiencing significant growth.

Inner London leads the charge with a stellar rise of 21.09%, closely followed by Outer London at 20.47%. The South East and East Anglia aren't far behind, with gains of 19.48% and 19.65%, respectively. This widespread growth signals a buoyant property sector, with buyers and sellers alike feeling the confidence.

In addition to increased property sales, the supply of properties on the market has also seen a substantial uptick, with an 11.8% increase compared to last year. This surge in inventory is good news for buyers, offering them greater choice and flexibility.

Current Property Market Snapshot

To gauge the current status of Coulsdon and Purley's property market, let's delve into our most recent findings for April 2024, sourced from 'The Advisory,' a trusted website that has been analyzing market trends for years. Here's a breakdown:

- In the summer of 2022, these postcodes indicated an extreme sellers’ market at 74%, which gradually eased off towards the end of the year.

- Throughout 2023, the local property market remained strong, hovering in the early to mid 50% range, indicating a hot sellers’ market.

- Since January 2024, there has been a slight increase to 54%, suggesting continued activity and demand in the area.

But what about sellers?

While the market is robust, realistic pricing and strategic marketing are key to success. Despite the uptick in activity, house prices are expected to hold steady, making it crucial for sellers to attract value-conscious buyers.

The easing of mortgage costs has sparked renewed interest in the property market, particularly after a lull period in the second half of last year. However, this momentum isn't expected to cause a significant rise in house prices in 2024, maintaining a delicate equilibrium between buyers and sellers.

So, where does that leave us in terms of market sentiment?

Coulsdon and Purley are currently in a balanced market, offering opportunities for both buyers and sellers. But as we navigate this dynamic landscape, it's essential to stay informed and flexible.

Back in the summer of 2022, these postcodes were red-hot, with a staggering 74% indicating an extreme sellers’ market. However, as we moved towards the end of 2022, the heat began to dissipate.

Throughout 2023, the local property market remained robust, hovering in the early to mid 50% range, signaling a hot sellers’ market. But since January 2024, there's been a slight increase to 54%.

For sellers, it's essential to set realistic prices and employ innovative marketing strategies to attract the right buyers. Meanwhile, buyers can gain an advantage by securing mortgage pre-approval and broadening their search area in this competitive market.

As we move into the fifth month of 2024, the property market in Coulsdon and Purley presents challenges and opportunities for all. Whether you're buying, selling, or simply observing, understanding these market subtleties is key to a successful home-moving experience.