Exciting times to look forward to in 2024 as the market is most definitely picking up and heavily in favour of the buyers I feel. If you are considering relocating and making that move to find your perfect home, there is no better time to get started.
It seems that interest rates have hopefully peaked, and there will be many more opportunities to secure a much lower fixed-rate mortgage deal than was possible six months ago. Inflation is going in the right direction, and there is an underlying confidence that property could once again be a good investment. As always, people will tread cautiously and quite rightly as there are always things that can tip the balance, such as an up-and-coming election for one. However, in a bid to win votes, each party will likely suggest favourable new housing policies that can only further stimulate the market. Agents generally feel more optimistic about the future property market and are busy with valuations.
The Spring market is approaching, and the general consensus from agents is that the low stock we have been experiencing will increase. Houses will still need to be priced competitively as buyers are no fools and still keen to buy well, but the difference is they feel more confident and willing to make offers, so good prices will likely be achieved for the right property in the right location. Family houses with larger gardens are most definitely.
My advice to clients is to get ahead and take advantage of hearing about a property early that is due to be launched in the coming months. That way, you can secure your home outside of the competitive Spring market and sit in your garden to watch it bloom instead of admiring it on Rightmove particulars. I wish you had acted sooner!