Viewings of properties in Greater London and the South West have jumped 10 per cent in the last year, according to a new survey of over 100 estate agents.
The research, carried out by Move with Us, reveals that 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).
The average number of viewings per property in both Greater London and the South West is 13, 10 per cent higher than last year - and seven more than the average for Britain overall.
Robin King, Director at Move with Us, says: âIn 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 wouldnât normally consider as soon as they come on the market. This increases the viewings to offer ratio.
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. 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.
âThe 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," adds King. "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."
How do you hold a successful property viewing? Read our guide here.