The Autumn market and lessons from the past
Mortgage lending at its highest in seven years’, ‘House prices jump 4.3% in the three months to July - the highest quarterly growth for 11 years’, ‘Rents across England and Wales rose faster in July than in any month since records began in 2009’. All these recent headlines point to a property market that is flying. Or is it?
Have we finally shrugged off the dark days of 2008? Other headlines can be more pessimistic. “There are far too few houses being built for the increasing demand”. “There is a crying need for more social housing”. The rental sector will continue to grow because it is too difficult for first time buyers to get onto the property ladder - and all this on next-to-zero interest rates”. Also those startling headlines are across the board, not just regional.
So what does this mean for the autumn market – the after-the-holidays, back-to-school property market? It means that pricing is key, as ever. Sellers shouldn’t get too carried away by the headlines. Just because one area is doing well doesn’t mean all are.
Our advice, whether buying or selling this coming autumn, is to stick to the tried and tested methods of sale and purchase. Sellers: ensure that your property is looking at its best, make sure that you have an agent acting for you with a superb track record in marketing and doing great deals in the local area. Why not call us? Buyers: look for the best conveyancing solicitors, the best are often local – they will save you time; check that you have all your funds arranged in principle.
Buyers and sellers: be flexible, be reasonable, be helpful and remember that this is not just about buying or selling a property; it is about moving on and starting a new life. Some would say that is above money and principle, but then again, some would not.
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