June has been an interesting month for the property market, and for me, it has felt like the point at which the gap between supply and demand has been at its greatest.
There is still a lot of property available to buyers. In many areas, considerably more than we would ideally want for a truly balanced market. Throughout the spring, new instructions continued to arrive while buyer confidence struggled to keep pace, creating a market where sellers were competing harder than ever for attention.
But during June, I have started to feel a change.
Mortgage rates have begun moving in a more encouraging direction and, perhaps more importantly, buyers appear to be responding. The easing of tensions in the Middle East and the subsequent fall in oil prices have helped calm some of the inflationary fears that had unsettled financial markets earlier in the year.
For buyers who have spent months watching, waiting and wondering whether now is the right time to move, that greater sense of stability appears to be making a difference.
The imbalance between supply and demand hasn’t disappeared. Far from it. There are still plenty of properties competing for a relatively selective pool of buyers, which means pricing remains absolutely crucial. But I am seeing more people who were previously sitting on their hands becoming comfortable enough to make decisions.
And ultimately, property markets need confidence.
Closer to home, June has been another big month for Charlie Carroll Property.
We completed on two sales, which is always a brilliant feeling, particularly as an independent business where you experience every stage of the journey alongside your clients. Our pipeline of agreed sales is continuing to grow, and I have also been incredibly fortunate to be invited into some genuinely wonderful homes across the Cotswolds and Worcestershire.
The business continues to grow in other ways too.
Over the last few months, I have started talking much more openly on social media about what is actually happening in the property market. Not just statistics and headlines, but the conversations I am having with buyers and sellers every day, the mistakes people make when selling, and some straightforward advice for anyone trying to navigate what can be a pretty confusing market.
The response has been fantastic.
There seems to be a real appetite for an honest view of the property market from somebody actually working in it every day, and I have thoroughly enjoyed creating that content. So, naturally, I am going to keep leaning into it.
Building a business from scratch is never going to be completely plain sailing. There are still challenges, commercially and personally, and I am learning something new almost every day. But June has been another month where I have found myself enjoying the journey enormously.
The pipeline is growing. More sales are progressing towards completion. Some beautiful new homes are joining the market.
And, perhaps most importantly for the wider property market, buyers finally seem to be finding a little more confidence.
There is still some way to go before I would describe the market as completely balanced, but after a challenging spring, June has given us a few reasons to feel positive about what comes next.
