There is a lot of noise around the property market at the moment.
Some people will tell you the market is dead. Others will tell you everything is selling if you just stick it on Rightmove and wait.
The truth, as usual, sits somewhere in the middle.
I have been looking closely at the Thanet market across CT7, CT8, CT9, CT10, CT11 and CT12, comparing properties that have gone Sold STC over the last 13 weeks with available stock, new listings and the same period last year.
The headline is this:
Buyers are still buying. But they are being very price-sensitive.
Across the Thanet postcodes I looked at, 578 properties went Sold STC over the last 13 weeks. So this is not a market where nothing is happening.
In fact, compared with the same 13-week period last year, sales agreed are actually up. Last year, 531 properties went Sold STC across the same postcodes. This year, that figure is 578.
So buyer activity is there.
But the important question is not just “are properties selling?”
The better question is:
What kind of properties are selling, and why?
And this is where the data becomes more interesting.
More homes are selling after a price reduction
Of the 578 properties that went Sold STC in the last 13 weeks, 341 had a recorded price reduction.
That means around 59% of the properties that sold had reduced their asking price before going under offer.
For comparison, during the same period last year, 281 out of 531 properties that went Sold STC had reduced. That was around 53%.
So while the number of sales agreed has gone up this year, a higher proportion of those sales are happening after a price reduction.
That tells us something important.
The market is not necessarily weaker in terms of buyer numbers. But buyers are being more selective, more cautious and more sensitive to price.
Fewer properties are selling quickly from launch
Another useful measure is how many homes are coming to the market and selling quickly without needing a reduction.
Over the last 13 weeks, 133 properties went Sold STC in the same period they were first listed.
Last year, during the same 13-week period, that figure was 174.
So fewer properties are coming on and selling quickly from launch.
Even more telling, only 117 properties this year were both newly listed and sold without a recorded reduction. Last year, that figure was 153.
In simple terms, fewer sellers are launching at a price that buyers are immediately accepting.
That does not mean homes cannot sell quickly. They absolutely can. But the launch price has to be right.
The market is active, but there is a lot of choice
At the time of checking, there were 1,599 properties currently for sale across CT7, CT8, CT9, CT10, CT11 and CT12.
Of those, 789 had come to the market in the last 13 weeks.
That means there is plenty of new stock competing for attention, as well as a large amount of older stock still sitting unsold.
This is one of the biggest issues for sellers.
You are not just competing with the property down the road that came on yesterday. You are also competing with weeks and months of unsold stock that buyers have already seen, saved, dismissed or are waiting to see reduced.
That is why the first few weeks of marketing matter so much.
If a property launches too high, it can quickly become part of the background noise.
The £200,000 to £400,000 market is the engine room
The strongest activity across Thanet is still in the lower-to-mid price ranges.
The £200,000 to £300,000 band saw the highest number of sales agreed, followed by the £300,000 to £400,000 band.
Above £400,000, the market is still moving, but it becomes more selective. Above £500,000, the buyer pool narrows significantly, and homes need a clear reason for buyers to commit – whether that is location, size, condition, sea views, character, plot, parking or something else that sets them apart.
This does not mean higher-value homes are not selling. They are. But they are less forgiving on price.
Different parts of Thanet are behaving differently
CT9, covering Margate and the surrounding area, has been the biggest volume market. It had the highest number of properties going Sold STC and the highest number of available properties. That means there is demand, but there is also a lot of competition.
CT11, covering Ramsgate, has also seen strong activity, particularly in terraced homes and more accessible price ranges.
CT10, covering Broadstairs, remains a strong higher-value market, especially for detached and family homes. But it also appears more competitive, with a lot of stock available and a lower rate of absorption compared with some other areas.
CT7, CT8 and CT12 are lower-volume markets, but the balance between new stock and sales agreed looks more controlled. Correctly priced homes in these areas are still attracting buyers.
So what does this mean if you are selling?
The market is moving.
But it is not rewarding optimistic pricing.
The homes that are selling tend to fall into one of two camps:
They either come to market at a sensible price from day one, or they start too high and later reduce to meet the market.
What is not working well is launching too high, sitting there for months, ignoring the feedback and hoping a buyer will eventually overpay.
Buyers have too much information now. They can compare your home against everything else available. They can see reductions. They can see how long a property has been online. They can spot when something feels ambitious.
That does not mean you need to undersell your home. It means you need to be honest about where the market is and position your property properly.
My advice to sellers
If you are thinking of selling, the most important decision is not which agent promises you the highest price.
The most important decision is where your property should be positioned to create serious interest.
A good launch should generate attention, viewings and feedback quickly. If it does not, the market is usually telling you something.
That does not mean panic. It means listen.
The data shows buyers are still there. But they are not chasing overpriced homes. They are responding to value, presentation, location and sensible pricing.
So if you want to sell in the current Thanet market, the strategy is simple:
- Price properly.
- Launch strongly.
- Listen to the feedback.
And if the market tells you the price is wrong, act quickly rather than letting the listing go stale.
The market is not dead. But it is definitely price-sensitive.
Thinking of selling in Thanet?
If you are thinking about selling in Birchington, Westgate, Margate, Broadstairs, Ramsgate, Minster, Monkton, Cliffsend or the surrounding villages, the most important thing right now is getting the price and launch strategy right from day one.
The market is moving, but buyers are being selective. A realistic, well-planned launch can make a big difference to the level of interest you attract and how quickly you secure a serious buyer.
If you would like an honest, no-pressure view of where your property sits in the current market, I’d be happy to help.
You can book a free market appraisal with Alexander Russell Estate Agents, or get in touch for a straight-talking conversation about your plans.
𝗥𝘂𝘀𝘀𝗲𝗹𝗹 𝗟𝗲𝗮𝘀𝗸 | Alexander Russell Estate Agents
Local. Experienced. Straight-talking.
📞 01843 269188