It is a mixed bag when it comes to the Spring market, as there are many factors that will make it an interesting time; the inflation figures remain encouraging and mortgage interest rates appear to have reached their peak. This is certainly what lenders are indicating with mortgage rates beginning to drop. However, for those who are having to re-mortgage the impact is just beginning to show and this will come out with stock levels during the early part of the year.
There are mixed feelings about when the election will take place, and elections often have an impact on stock levels, as people wait to see the outcome. This may not be as unexpected as other occasions however, so if life is moving on, and you need to do the same, cracking on with scoping out your search area, understanding the local market and getting in a proceedable position should be a high priority now, as you are probably able to predict some of the post-election matters that will influence your decisions – eg VAT on private school fees.
Those with cash and who are ready to go, remain in the strongest and ideal position. Houses and gardens will only get “better” over the Spring and Summer, which usually means the pool of buyers is wider (including those without ‘vision’) so being ahead of the pack, or short-circuiting the research by employing Stacks, will mean you’re taken seriously even if you’re not chain-free.
As ever it is a case of having your finger very much on the pulse and being in a position where you can move effectively and quickly when the right property comes – we don’t predict a glut of stock, but ‘your house’ might be on its way to market right now!
Get in touch to see how Stacks can help you in your 2024 househunting.