Looking to sell your house in 2022?
You don’t need to be a property expert to know that over the last 18-24 months, the Covid19 Pandemic has had a huge impact on the UK.
It has left many owners wondering whether their property has increased or de-valued, how long it would take to sell, or whether it would sell at all!
In this post we will try to give some insight into the effect that the pandemic has had on property sales in Liverpool and provide some insight on the prices you might expect if you were to sell your home.
How Much Could You Sell Your House in Liverpool for?
After a short-lived dip between June and August of 2021, in Sep 2021 the average residential property selling price in Liverpool stood at £195,473. This is a whopping 17% increase from £167,441 in Sep 2020!
Obviously, this is across all property types, so we will now delve a little deeper this.
According to Gov.UK data, In Sep 2021, the average prices paid for detached houses stood at £316,679, semi-detached houses at £217,250, terraced houses at £154,404, and flats at £145,898. These prices are of course the average, therefore can range hugely depending on the property size, condition, and area that they are located.
Previous data shows that in Liverpool, the average residential property selling prices only rose by 2% from Sept 2018 to Sept 2019 and 10% from Sept 2019 to Sep 2021. So, what this data tells us is house prices have rose significantly over the past 12 months, regardless of the pandemic!
How Quickly Could You Sell Your Home in Liverpool?
When selling through a traditional estate agent, the median selling time is approximately 86 days (roughly three months). This seems a long time but it isn’t surprising given that in Liverpool, there is currently around 3800 properties on the market (December 2021).
It’s no surprise that 3- & 4-bedroom properties are the quickest to sell and that there is not much difference between the selling times of terraced, semi-detached, and detached houses.
Should you not have the time to wait for to sell you house through the open property market then there are always the options to go through a property auction or sell to a property cash buyer. The selling time through an auction is generally faster than on the open market but is dependent on when the auction is and whether the property sells first time. Selling to a house cash buyer is the best option to sell your house fast, as there are no property chains, no waiting for offers, and no liaising with different parties.
Will I lose Money by Selling Through a Property Auction or to a Cash Buyer?
Selling through an auction or to a cash buyer does not automatically mean that you will lose money. However, whilst you can set a reserve price at auction, you cannot guarantee how much you will sell your property for.
Selling to property cash buyer will guarantee the amount you receive, your property will be valued and what you are offered is what you will receive; there will be no low offers, dropping the price or bidding involved! The fees involved when selling to a cash buyer are nearly always lower than when selling through the open market or at a property auction, after all, you are cutting out the middleman!
At We Buy Any House Liverpool, we will always try our best to offer the market value of the property, this is obviously determined by the condition of the property. Generally, if the house needs renovation works then you are more likely to sell faster and more profitably to a cash buyer than if you were to sell on the open market.
Hopefully, this data will give some confidence to those of you that are thinking about selling your home in the coming year. Confidence levels are high in the property world right now, and it is a welcome sight to see that there is one industry to which the pandemic has not caused quite as much long-lasting disruption.
Should you be looking to make a quick and efficient sale, then get in touch with We Buy Any House Liverpool and we will provide a no-obligation, free quote straight away.