Member Article

When supply meets demand who wins?

Adore Properties MD, Jeremy O’Connor debates whether power lays with sellers or buyers in the current housing market

Depending on the ebb and flow of the housing market you will often heard it referred to as either a buyers or seller’s market. The old adage being that more houses on the market give advantage to buyers whereas less property and more demand places power firmly with the seller.

In reality, it is rare that either party has an outright favourable share at any one time – a myriad of factors come into play, including the needs of the buyers, reasons for selling, chains etc. Just as the market is rarely so clearly cut, the national picture also rarely reflects market activity in individual towns and cities.

For instance, recently week the Royal Institute of Chartered Surveyors released a report that the UK property market overall was stalling, with fewer people interested in buying a new home and prices remaining stagnant across the country as a whole.

I’m happy to report that one of the areas that bucked the trend was Middlesbrough, which continues to see increased sales. This matches our own research which has found that prices are creeping back to their pre-2008 highs, bringing with it a lot of relief for homeowners. If you bought a house in the area in 2010, the chances are that you will currently be experiencing the thrill of no longer being in negative equity!

It’s not just Middlesbrough, there are hotspots across Teesside that seem to be in a win-win situation – gaining equity for their current owners but still significantly under the £70K mark to keep potential buyers interested.

Buyer or Seller – it seems that, in the run-up to the festive season, the Teesside market has something for all.

This was posted in Bdaily's Members' News section by Adore Properties - Stockton .