Off-Market Homes – A Buyer’s Guide
Off-Market Homes – A Buyer’s Guide
Local buying agent Alex Greaves discusses off-market property and how home buyers can get access to these exclusive opportunities.
What is an off-market property?
These are homes that are not publicly listed or available on mainstream platforms like Rightmove or Zoopla and won’t appear on a selling agents’ website or within their high-street office window. In many cases a traditional estate agency is not even involved with this sort of transaction.
Why do people look to sell their homes off-market?
In an increasing trend, we are seeing that many UK home sellers are looking for a greater level of privacy and discretion when selling their properties. On top of privacy, sellers also worry about security when posting floor plans online, with pictures that may show the location of valuable artworks or other possessions.
This approach also allows them to test the market at a certain price level, without the need for online exposure, where some properties often remain available for many months with a publicly available price history and the potential for over-exposure, which can impact timing and the overall success of the sale.
Which sorts of properties are being sold off-market?
Off-market activity tends to increase for higher priced properties above £1M, and the average off-market deal price in London is £1.55M. In some areas of London and the Home Counties, off-market sales account for over 50% of all transactions, and London wide the figure sits around 30%.
How do you get access to off-market property in London?
At Ridgestone Property we source and acquire off-market homes for our clients using our extensive network and experience operating within this space. Since the start of 2023, over 60% of the homes we have found our UK and overseas based clients have been entirely off-market. The benefits for our clients include early and exclusive access to these in-demand homes and a significantly reduced chance of a competitive bidding scenario, saving time and money.
If you would like to have a confidential and no-obligation discussion with regards to your specific property requirements, then please do get in touch.
07867 526 071 | hello@ridgestoneproperty.com
