Strood Homeowners to be Made Homeless?

 

 

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The number of properties for sale in Strood has fallen by 39% since this time two years ago (October 2019). One of the reasons is that many Strood buyers feel overwhelmed and fearful they will be made homeless if they sell their home and can’t buy another. So, I have decided to look again at the facts and give them to you in greater detail in this article.

My research has found the number of Strood properties for sale started to decline last autumn (2020).

Nationally, the same story is being written as the average UK estate agency office now has around 16 properties on their books to buy, compared to 43 a couple of years ago.

So why is this an issue? Many Strood homeowners are wanting to move home and are worried they will put their current home on the market, it sells quickly and then be unable to find another home to buy – thus they believe they will then be making themselves homeless.

The fact is that most Strood home buyers need to sell before they can buy their next home, meaning they need to place their property on to the Strood property market before they can buy their next home.

Yet because of the low supply of properties for sale and the current high demand, there is an imbalance in the Strood property market. This means some Strood house sellers are nervous to put a ‘for sale’ board outside their house.

So, let me look at the Strood numbers in greater detail. According to the three main property portals (Rightmove, Zoopla and On-The-Market) …

In October 2019, there were 537 properties for sale in Strood. Today, there are only 329 properties for sale, a reduction of 39%.

When I break it down into bedroom numbers and type it gets even more interesting (note things like building plots and part commercial/part residential etc., won’t be in these numbers so the stats below won’t precisely match up to those above).

# Properties on the Market in Oct 2019

# Properties on the Market in Oct 2021

Percent Change

5+ Bedrooms

55

26

-53%

  4 Bedrooms

94

52

-45%

  3 Bedrooms

183

93

-49%

  2 Bedrooms

156

104

-33%

  1 Bedroom

43

48

12%

.. and when I looked at the type of properties ... it got even more interesting …

Type of Property

# Properties on the Market in Oct 2019

# Properties on the Market in Oct 2021

Percent Change

Detached

84

37

-56%

Semi

160

67

-58%

Terraced

144

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