Off-Market Sales in the UK Property Market
A discreet yet growing trend in the UK Property market is capturing the attention of both buyers and sellers – the off-market sales.
In the UK market, this exclusive avenue for property transactions is gaining momentum, especially in the higher-priced property segment. Tim Gaston, Partner at G Herbert Banks, sheds light on this change, remarking:
“Off-market sales are normally reserved for higher-priced properties, although it is a trend that is accelerating both nationally and locally, partly as a result of property sales slowing down across all market sectors.”
The catalyst behind this surge can be attributed, in part, to the broader slowdown experienced across all market sectors. As the traditional paths of property sales face a deceleration, off-market sales emerge as an enticing alternative for those seeking a swifter transaction.
One defining characteristic of off-market sales is their ability to attract a more serious and committed pool of buyers. Nick Jethwa, Partner, “Off-market sales normally attract more serious and committed buyers and can often lead to a faster transaction.” The allure of exclusivity prompts a higher level of dedication from buyers, contributing to a streamlined and efficient sales process.
An increasing number of sellers are finding solace in this discreet form of marketing. The confidentiality and targeted approach offered by off-market sales appeal to those who value privacy in their property dealings. Sellers appreciate that their property is being presented to a select audience, often leading to a more straightforward and confidential negotiation process.
However, entering the off-market realm requires caution and strategic planning. Tim advises: “In our opinion, it is essential when considering this method of sale to use a well-established and very experienced property firm with a strong database and excellent connections.” Choosing the right partner in this off-market journey becomes paramount, ensuring a seamless and successful transaction in the exclusive world of off-market sales.
As the trend accelerates, navigating the off-market landscape becomes more difficult to direct. If you’d like our experience in steering your way around off-market sales, please contact Tim Gaston (Residential) and Nick Jethwa (Commercial) directly on 01299 896968.
23 November 2023< Back to news