Current Housing Market
What's really happening in the local housing market?
Is the housing market slowing down? Will demand for properties slow down with the increases in cost of living and the interest rate rises?
These are questions that we, as Estate Agents, get asked all of the time. Whilst we cannot predict the future, at this current time the answer to both of these questions is quite simply there are no signs that the market is slowing down. If anything with the increased number of properties entering the market it's much easier to find your onward purchase than it has been over the last couple of years. Now is a great time to sell and be able to find your dream onward home.
Will my home sell quickly? During 2021 and 2022 the answer pre 'mini budget' would have been yes. Although some agents will still promise a sale in days we have to be realistic. We are back to a normal housing market which is not a bad thing for consumers and sellers. Properties may take a little longer to sell as buyers have more choice to look at. Plus buyers are taking time to make a considered purchase making it more likely the transaction will reach the finish line. In turn vendors are coming back to the market as seeing properties they would like to purchase, all these factors are having a positive effect on the market. Good, old fashioned estate agency working with people and listening to their wants and needs in their next home is essential in this market to bring chains together.
Being in the best possible position to purchase is really important. Having your mortgage approved and an Agreement in Principle available is essential to secure a property. Also being in a position to proceed is important although not essential when wanting to 'dip your toe' in and see what's available for you to buy - most vendors are in the same position so happy to accommodate serious viewings.
To book a valuation on your property and discover why our clients trust Lawler & Co to sell their property book in a free, no obligation market appraisal.
Leigh Lawler CPEA FNAEA
Managing Director