So is now a good time to sell?
This really depends on an individual’s circumstances.
Yes interest rates have increased and the cost of living has had an impact, however it would be wrong to assume that the property market is crashing.
You have to bear in mind that for the last couple of years, certainly post-pandemic, we saw record prices being achieved and the most amount of transactions than had been seen historically. This was driven by fewer properties, buyers in abundance, especially those relocating from London and low interest rates.
So what we are now potentially seeing is a correction in the property market, which reflects the interest rate rises which are trying to subdue inflation and try and achieve a more realistic property sales market place rather than one which favoured sellers.
In essence, it is my own opinion that we are now going to see a more realistic marketplace and more importantly a pre-pandemic years, circa 2019.
The most important thing to keep in mind is to make sure you get the right advice from the outset. Everyone has different perimeters, circumstances and goals to achieve when it comes to selling or letting their home and transparent, quantified advice is paramount. There is nothing worse than making a knee jerk reaction before consulting the opinion of a reputable property professional.
The Spring market is upon us and if you are thinking of selling or letting your home then please get in touch and we can provide a transparent and realistic over view of the current market place in your area in order that you can make a more informed decision for your home and future.
