26 Feb

Shortage of properties coming on to the market

The local Dagenham housing market is experiencing a shortage of properties coming to the market. The shortage of properties is being blamed on uncertainties within house holders
personal finances. People are holding off selling their properties until they feel more secure and feel it is safe to take the important decisions that go with putting your house on the market and buying on.     

Moving Pad are currently selling properties for vendors whom are selling up for reasons of necessity rather than choice. Many times its a probate sale, or having to move house to fit in with a job offer.

With a shortage of properties coming onto the market and a large demand of buyers coming out from London, due to high pricing of homes, Barking and Dagenham is currently one of the cheapest boroughs to buy a property in. 

This has had the effect of raising house prices in the borough. We are currently seeing surveyors’ under valuing asking and agreed house prices thus giving buyers the problem of having to find a top up amount between the amount they can borrow from the bank and the agreed purchase price. 

This also has the effect of putting  the buyer under pressure because they know that if they cannot raise the top up amount another person will step in and agree to buy the property and pay the extra amount being asked by the seller. 


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