All the good signs are there if you are thinking of moving
An increasing number of ‘for sale’ signs have been turning to sold, which has created more confidence in the market this summer.
If you are thinking about getting an agent around to place a ‘for sale’ sign in your front garden, here are a few positives to keep in mind.
House prices are settling
House price fluctuations vary from street to street, town to countryside, and region to region. But, one common thread is that house price changes are small and for the most part, have been increasing. This settling, or hardening of property values, helps firm up the foundation of the property market.
More people are moving because it’s easier
Is moving still stressful? Certainly not as much as in the past. Home renovations and improvements have got to be higher up the stress ladder. Moving is becoming simpler thanks to an increasingly streamlined process, and agents who offer better customer service with modern tech.
The market has turned a corner
The spring market has offered proof that the UK property market is improving and has set the scene for a better summer. Mortgage approvals increased by 18%*, and sales agreed increased by 13%** in the spring.
Mortgage choice remains very strong
It’s worth watching the mortgage market as closely as the property market. With thousands of improving products available, offering innovative ways to buy, such as 1% mortgages for first-time buyers, to offset mortgages, which may help reduce the amount of interest you pay.
Modernised-characterful properties
Homes with car charging points, solar panels, smart technology, and higher EPC ratings, are appealing to a growing number of buyers. But, it’s not all about keeping it green. Features such as bi-fold doors, a multitude of outdoor spaces, and inspiring layouts are waiting for buyers.
A new outlook on the UK property market
Homemovers now have a better understanding of the moving market and are getting on with moving, keeping it buoyant. Interest rates, while not as low as previous ultra-low levels, still represent good value. Strong equity levels and slower house price inflation make moving more affordable.
What’s your moving story?
It’s important to take economic news and market data with a pinch of salt. Each homeowner sits in their own unique corner of the market. Cash buyers for example, may care little for mortgage interest rates. Homeowners have more options due to larger amounts of equity, and if you have improved your home, it may have added a lot of value and help fund your next move.
Begin your moving story by browsing our properties.
Zoopla*
Rightmove**
Office for National Statistics***
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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