Autumn 2023

It’s already chilly enough to be Autumn, so looking ahead to after August…

Ignore the headlines ‘House Prices Slump’  – the true reality is that common sense is returning, which is a massive relief, after the rollercoaster of the last 3 years.

Turnover and transaction levels are down somewhat in the region but, I am still seeing ‘best-in-class’ property go under offer quickly with competitive bidding.

Examining returns from the property portals such as Rightmove, Prime Location, On the Market etc, there are a fair amount of price reductions. However, this should not be seen as a drop in values, as they were almost certainly never priced correctly in the first place. Selling agents have to win instructions, and nearly always what potential vendors wish to hear is a high valuation. 

A price correction in terms of realistic asking prices is more helpful for the sensible, rational buyer making a long-term move.  The days of ‘cheap money’ are over, and probably not before time. In ten years, today’s prices will look cheap, and the opportunities for buyers to secure a really special home are out there now, so don’t switch off.

As ever, our advice if you don’t over-stretch yourself, moving in and enjoying your next home sooner rather than later will always be a wise investment – especially when you have a property professional looking after your best interests!

Everyone’s circumstances are different, so please do call for an informal chat.  Stacks has 17 offices across the UK, so we can help with your property search, either here in around the country.

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