Cluster sales are becoming a regular feature in the industry. Homeowners are putting their property on the market and due to high demand, their homes are selling at a quicker rate and for higher prices. In turn, this creates a competitive spirit among onlooking neighbours as they too want to sell their bricks and mortar at a premium. A domino effect occurs, and the street evolves into a “cluster cache”, a multitude of ‘for sale’ signs. Even those who had no intention of selling are looking to take advantage of this change and capitalise on the potential increased value.
Whilst this trend is more common in cities due to the vast scale and the number of potential buyers, they are also showing in the commuter belt areas. Stuart Mun-Gavin, Northern Home Counties, speaks to The Times about a noticeable trend on a street in Beaconsfield, Buckinghamshire, that forms what’s known as the “Golden Triangle”. Stuart has noted six houses and flats have come on sale in the past nine months in the wake of three houses and four flats selling last year. “There can be a number of reasons this happens however, it tends to be popular with family or commuter hotspots.” reports Stuart “When the children have grown up, proximity to schools is no longer of importance, and the property has reached its ‘lifespan’ for the area, this tends to be a springboard for multiple sales in one area. Developers, in particular, keep a keen eye for these opportunities as the area is a draw for commuters/ connection links.”
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