I’m going to go against the grain here: if you are looking for a home right now, stop rushing. Take a breath. Put the kettle on. For the first time in a very long while, the balance of power in HA7 has shifted entirely into the hands of the people doing the buying, not the people doing the selling.
Imagine walking into your favourite bakery on Stanmore Hill. Usually, there is a queue out the door and the best sourdough is gone by 9:00 am. But today? You walk in, the shelves are bursting with bread, and you’re the only person in the shop. You can take your time, pick the best loaf, and maybe even have a chat about the price. That is exactly what the current level of choice for buyers in HA7 feels like this August.
The Big Number: 20-to-1 Ratio
In the world of property, we look at something called "housing supply." It’s a way of looking at the ratio between the total number of properties currently for sale and the current level of market activity.
Right now in HA7—from the leafy drives of Bentley Way to the quiet corners of Fallowfield—that ratio stands at 20 to 1.
To put that in perspective, in a market where there is less choice for buyers, that number is usually under six. We are currently sitting at triple that. This figure has stayed exactly the same since last month (20.0), which tells us that the market is in a phase of very high stock levels. If you're buying, you aren't just in the driving seat; you’ve got the map, the snacks, and you’re choosing the music too.
What’s on the Shelf?
Across our beautiful HA7 patches—including Stanmore, Belmont, and out towards the edges of Bushey—we currently have 363 properties looking for new owners. That is actually 14 fewer than we had last month.
You might think fewer homes means more competition for buyers, but because market activity is at a gentle pace, there is still an abundance of choice. On average, about 18 homes are finding buyers every month. When you compare 18 sales to 363 available homes, you realise that only about 5% of the "stock" is turning over each month. It’s a bit like a game of musical chairs where there are 20 chairs but only one person dancing.
What does this mean for your pocket?
Did you know there is currently a bit of a gap between what people hope to get for their homes and what they are actually shaking hands on? The average price people are asking for in HA7 is around £639,561. However, over the last year, the price people are actually paying is closer to £556,444.
We are still seeing some big, beautiful moves, though! Just recently, a stunning spot at Spring Lake sold for £3,500,000, and a lovely home on Adelaide Close went for over £1.6 million. People are still moving; they are just being much more careful and taking their time to get the right deal.
Dharmesh’s Bottom Line
If you are selling: You need to be mindful of the competition for sellers. Because there are 363 other options for buyers, your home needs to look like a page out of a magazine and be priced to make people sit up and notice. With such high housing supply, your property must stand out from the crowd.
If you are buying: This is your golden hour. You don’t need to get into a "bidding war" or make a decision in five minutes. You can visit a house twice, check the garden at sunset, and really negotiate because the choice for buyers is so high.
If you are just living your life: Your home is still a fantastic asset in a wonderful part of the world. Even with these current stock levels, HA7 remains one of the most desirable postcodes to call home.
Want to know how your specific street is doing? Pop into the office for a cuppa and let's chat.