House sales are bucking the trend
The housing market has once again proven resilient despite residual uncertainty as we move into 2024.
According to Zoopla*, new sales agreed ran 17% higher in November than they were at the same time in 2022, while buyer demand has climbed by 19%.* .
Tentative signs of growth
Confidence in the market has taken a series of hits over the past couple of years, starting from November 2022 following Kwasi Kwarteng’s Autumn ‘mini-budget’ announcement.
Today’s market has recovered nicely with an increase in the number of homes available for sale – up 25% in the last year – boosting choice and supporting sales.*
Zoopla also reported a further drop in mortgage rates, with some incredibly competitive rates for borrowers with a 60% LTV*. This is set to strengthen affordability and boost buyer demand in the coming months.
With the help of a trusted letting agent’s skills and knowledge, you can diversify your portfolio and experiment with different projects to see what works best for you.
How to time your move
While conditions are improving, the housing market is in a constant state of fluctuation; so, timing is everything. By considering seasonal nuances, market trends, and personal schedules, you can make an informed decision for your move.
Seasonal considerations
Each season will have its renowned pros and cons for moving. There is a lot of misinformation online about seasonal market dynamics, so it’s important to speak with a local agent who can provide you with accurate and localised data to help you weigh your preferences against practical factors.
Create a timeline
Moving is a step-by-step process which takes a lot of time. You can stay organised and even speed things up by developing a detailed timeline for your move. Consider when you will start packing, which dates the kids are off school, and when to hire tradespeople. This should provide you with a clear and realistic idea of what date you can get moved in by, allowing you to plan around work and any other commitments.
Should I put my house on the market before looking?
Having your home on the market while you’re looking for your next will put you in a stronger position as a buyer. When the market is competitive, some sellers may even sell their homes first and rent for a while so that they can be chain-free buyers. Your position as a homebuyer is strengthened if your home is already under offer or sold, as this shows sellers that you’re a serious buyer who can move in quickly.
Is your home ready for the market? Get in touch with our expert team today to find out how we can help
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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