If you’ve been walking the dog around Sunholme Drive or popping into the shops on the Coast Road lately, you might have felt a change in the air. It’s not just the July humidity. For the last few months, the property market here in NE28 9 has felt a bit like a polite standoff—with a steady balance between the number of homes available and the number of people looking to move.
But I’m going to stick my neck out here: I reckon the "wait and see" period is officially over. We are seeing a shift in market activity, and things are about to get a lot more competitive as we head towards the end of the year.
While the "experts" in London are staring at spreadsheets, I’ve been looking at what’s actually happening on our doorsteps from The Swallows over to Moor Drive. The numbers tell a story, but the feeling on the ground tells the truth.
Understanding Local Stock Levels: 5.9
Last month, our housing supply was sitting at a ratio of 6.3. This month, that has dropped to 5.9. Now, I promised no jargon, so imagine this: this figure represents the current relationship between how many homes are sitting on the market versus how many are being bought.
In the world of property, that six-point line is the "tipping point." Anything over six suggests a wider choice for buyers, allowing them more room to haggle. But because we’ve dipped to 5.9, the level of competition for sellers has increased. There is simply less stock available relative to the number of active buyers. It’s like a game of musical chairs where a couple of chairs have just been pulled out of the room.
Choices, Choices (Or a Lack Thereof)
Right now, there are exactly 56 properties for sale across the whole of NE28 9. Interestingly, that’s the exact same number as last month. While we haven't seen a flood of new houses, the people looking to buy have become much more decisive.
We are seeing an average of 9 sales every month. That might not sound like a huge number, but when you consider our monthly turnover rate is sitting at 17%, it means nearly a fifth of the available stock is being cleared out every four weeks. If you’re a buyer looking for a specific type of home—maybe a nice semi on Moor Drive or a detached spot in The Swallows—you aren't just competing on price; you are navigating a market with very limited choice.
What This Means for Your Back Pocket
Did you know that despite the average asking price sitting at £238,218, the average price of homes actually sold over the last year is closer to £172,028? That tells me that while those big, beautiful £400k+ homes on the Coast Road catch everyone's eye, the "engine room" of the NE28 9 market is actually the smaller family homes and starter flats.
If you’re thinking of selling: The wind is in your sails. Because housing supply is dropping, you aren't fighting fifty other neighbours for one buyer's attention. With lower competition for sellers, if your house is priced right and looks the part, you are in a much stronger negotiating position than you would have been back in the spring.
If you’re looking to buy: Don’t dawdle. The "Balanced Market" we enjoyed last month has shifted. You’ll need to have your mortgage "Agreement in Principle" ready to go. If you see something you love on Swallow Court or Sunholme Drive, realise that there are likely three or four other families thinking the exact same thing, and the current stock levels mean there aren't many alternatives available.
If you’re just curious: Your home is likely holding its value very well. When demand outweighs the available housing supply—which is exactly what that 5.9 figure shows—it creates a safety net for property prices.
The NE28 9 market is moving. Market activity is definitely picking up. If you fancy a proper chat about what your place might be worth in this high-demand market, you know where I am!