The Property Market is tricky -- good advice is the key.
No fewer than 174,000 moved home in the first six months of 2016 - a rise of nine per cent on the same period last year and almost 50 per cent more than the post-2007 financial crash low. This is despite the Brexit uncertainty which, according to some observers crippled the housing market.
The figure, which comes from the latest Homemover Review, suggests that ahead of the referendum more buyers than expected took advantage of lower stamp duty across most price sectors of the housing market and a series of optimistic reports on the economy prior to the EU referendum.
The home owner market is at a nine-year high after growing by nine per cent in the past year. A favourable economic backdrop, record low mortgage rates and the stamp duty changes announced in December 2014 have supported the market. Higher house prices have also boosted home owner equity levels which in turn have helped towards the purchase of the next home.
Even so, the number people moving home is still far below the pre-downturn level of 327,600 in the first half of 2007. However, the latest figures represent an increase of 48 per cent on the market low of 117,900 in 2009.
The property market is tricky and sellers must be aware of buyer’s concerns about the future, but the big crash didn’t happen and demand always seems to outstrip supply. Remember, a deal is only a deal if both parties agree. As a potential seller, you need good advice, not just an agent, virtual or otherwise, taking a stab in the dark to boost their listings. Call us with confidence and a highly experienced valuer will provide the information you need to start your moving process or just to satisfy your curiosity. 01993 779020. Absolutely no obligation.