Latest figures from the Sourced property app, which has over 20,000 users, reveals that in the past six weeks there has been a 22% increase in available investment properties.
“Despite global events such as the war in Iran causing financial turmoil, and interest rates being held, we are seeing more investment properties being made available than ever,” says Stephen Moss, CEO and founder of the property investment company Sourced.
“Data tracked from the Sourced property app reveals more properties have been added by our sourcers in the past six weeks than in the last six months. Sourced does not deal with mainstream investment property sales, and we believe that this 22% increase could be due to more properties now fitting investor criteria, with sellers much more amenable to accepting offers. Buyer interest is high, and the fact that interest rates did not change has resulted in sellers demonstrating a willingness to reduce their asking prices or be more flexible to accepting opportunities and offers.
“In the past when we have experienced something dramatic like a war breaking out, there has been a tendency for buyers and sellers to baton down the hatches and wait the situation out. However, in recent weeks it seems that people who had already been waiting a very long time for the market to improve and interest rates to drop, have decided to take action and this has ignited something of a fire in the property investment market.
“Just 18 months ago, we would have been fortunate to have had an offer accepted on a property for less than 5% of the asking price, but now offers at 15% below are typically being accepted. A couple of investors recently had offers accepted on properties in the Midlands at 34% below the asking price, which Sourced is now funding. Over in London a buyer had an offer of 18% below the asking price accepted, and the seller then offered 10% less on the property he wanted to buy, so the chain absorbed these discounts to successfully complete the sales.
“The Sourced Property app was launched in 2021, with profitable property investment deals uploaded each day via a nationwide network of over 150 professional sourcers. Recent app activity confirms that despite the war in Iran, and uncertainty over mortgage deals and interest rates, Sourced is currently experiencing the type of property investment boom that we’ve not seen for a long time.
“I would advise anyone interested in profitable investment opportunities to contact Sourced or download the free Sourced Property app to check out the many properties that are listed each day. Many of these are BMV (Below Market Value) and could be a valuable addition to an investor’s portfolio.”
