This year's buying market is unprecedented lately, with demand for property greatly superior to the number of properties on the market. It is therefore imperative to stand out from the crowd in order to land your dreamhome. Here’s how.

How to stand out from the crowd

The market favours sellers this year, meaning prices will be inflated due to more potential buyers viewing all properties that come the market. In the past, you may have gotten away with starting negotiations with a low offer, but this no longer holds up. Low offers are likely to be rejected without a second thought, simply because other buyers will be willing to pay more. Opening with a solid bid grabs sellers’ attention and lets them know how serious you are about their property - and that you aren't going to waste their time.

You should sort out your Mortgage In Principle (MIP) before bidding. Knowing your budget and affordability, what brokers will lend you, and having a ready-to-go deposit makes it much easier for agents to sell your offer(s) to sellers. Other buyers will have theirs ready, so you’ll miss out if you don’t have yours to hand. In short, get your finances in order before submitting any offers.

List your own property before looking to buy

Because of the incredibly competitive market, you can bet that your rival buyers have already put their houses on the market, largely because doing so speeds up the whole buying/selling process. Agents have a responsibility to their selling customers to put all offers to them with full honesty whilst providing the best possible advice. So if two buyers submit similar or identical offers, you can bet that the bidder who listed their home in advance is much more likely to have their offer accepted. The further on you are with your property journey, the further the seller is with theirs.

As a buyer, having no chain is the best position to be in and gives a slight advantage to tenants whose contract is shortly ending as they look to become first-time buyers. A guaranteed signing date is attractive to all sellers simply because they are a rarity. If you are already a homeowner, managing to agree the sale of your current home before making an offer is a great way to appeal to sellers.

If you are in the favourable position of being a cash buyer, you boast the ability of not having to liaise with mortgage advisors and, with the money readily available, sellers won’t hesitate to accept your offer if it is at the higher end of the bids they have received.

This is because there is much less risk of the deal falling through – the same applies if you have no chain.

What will the market look like at the end of 2022?

There was widespread expectation that the market would slow down as 2022 began, but this has not happened. Demand is higher than ever and supply numbers remain low. One thing that is for sure, however, is that these levels of demand will not die down until the autumn at the earliest, so it is going to be a favourable market for sellers for some time yet.

Are you looking to buy or sell a property in Yorkshire? Take a look at what the market is like for your home by entering your postcode here: