Janet Hopkinson, Operations Director, gives her opinion on what seems to be a more steady marketplace, as the rise in UK home sales in the first quarter underlines hopes of a market revival.
Imagine the property market as a clock face. Twelve o’clock is a rampant buyers’ market with lots of property available and buyers playing hardball with offers. Six o’clock is a sellers’ market, with prices rising quickly and purchasers panic buying, often going straight in at asking prices to secure properties. These are times in the market when things are most uncomfortable and precarious. These markets generate gazumping or gazundering, practices that often do more harm than good and are strenuously discouraged by experienced estate agents.
Between these market extremes, at three and nine on our clock, is balance. Buyers have more time to make their choices and try reasonable offers. With more property on the market, sellers have more competition and have to price reasonably to attract buyers. More than that, their homes should be in the best possible structural and tastefully decorative condition. Clutter will have to go.
The market this year feels more in balance than it has been for a long time, a rare period when buying and selling property is relatively calmer, easier and less of a lottery. For those thinking of moving this spring, embrace the opportunity that falling interest rates bring more buyers. Sadly, this time of equilibrium will pass. It is the way of the property market. Our advice is, if you want to move, now is a wonderfully opportune time to do so.
As always, our highly knowledgeable and hugely experienced team are on hand to give the most clear advice on how to successfully market and sell your home. We believe in strong marketing techniques and a proactive approach, and we are confident our team will always go that extra mile to enable your home to have the best exposure it can possibly get.
So perhaps, with this rare moment of calm, you can begin to think about your moving journey, just let us help you make the right one.