What's The Market Like?

January and February are traditionally tricky months to predict – on the one hand, the New Year can stimulate change with family get togethers over Christmas providing time for conversations about upsizing and downsizing alike.  On the other hand – no-one’s house and garden (especially) looks at its best in the winter; unfavourable weather, dark days and early evenings make viewings, photography and sometimes logistics, much harder.  

It’s certainly true that the market generally is less cyclical than it used to be, especially away from the coast and mountains, making more urban and semi urban markets more viable at this time of year than ever before.  There is value in coming to the market when others are waiting for better weather, as we certainly are aware there is a degree of pent-up demand and new stock, if realistically priced, will likely sell, but that word “realistically” brings us to the nub of the problem.  

Realistic pricing is key – the main issue is that the market is currently fragile – there are buyers out there, BUT if they can’t see value in the property and perceive it to be overpriced, they simply won’t view.  This fragility is brought about due to the overwhelmingly negative world news cycle, the stamp duty rise in the Spring, combined with fear about mortgage rates.  

It's not all bad news by any means. Mortgage are predicted to change. Reports out of the Monetary Policy Committee indicate there may be as many as 4 (or even 6) reductions in interest rates, over this year; so fixed term mortgages should start to look much more palatable. Once this good news becomes part of the story, confidence should return to the market.

If you would like to discuss the market, if you are thinking of a move, please contact us. Moving house can be a daunting process and we can help with it, keeping your best interests at the heart of what we do.