Market Brief: It’s a game of wait and see
As we head into the traditionally busy Spring Market, it’s difficult to predict what is going to happen over the coming weeks and months with the ongoing uncertainty and, for want of a better word, chaos, continuing in Westminster!
With a delay of at least two weeks now agreed, hopefully we will get some clarity sooner rather than later!
The Brexit uncertainty has meant that there aren’t nearly enough properties for sale at the moment to create a market and more properties are needed to create turnover. Having been busy carrying out lots of valuations since the start of the year, I know there are people eager to make a move when they feel the time is right, and if a deal to leave, or delay Brexit is agreed, I predict we will see quite a buoyant Spring market. I’m sure people will take the view that regardless of the politicians being unable to make up their minds, life continues and they want to get on with things.
Of course, the market will still be sensitive with the importance of getting your price right key to securing a successful sale. There are serious buyers out there, with the historic low mortgage rates making it a good time to buy, so price correctly and it’s likely your property will be snapped up quickly. Price too high and you risk alienating potential buyers and your property hanging around.
As we look ahead to the end of the month, we hope some greater clarity from Westminster will help to warm the Spring market!
If you’re thinking of buying or selling this year, or have any questions about the current property market, please give me a call on 01904 650650.