Spring 2023
Demand
Albeit that the press is full of doom and gloom, from what I am seeing – the demand for Property is as high as ever.
The number of overseas enquiries I am getting, (in particular from the USA), is significant; that combined with the remaining Buyers from last year – (many who have been waiting for stock levels to rise) means that the Spring is looking to be very active indeed. The more traditional exodus from London to the country – predominantly to be closer to schools or family – continues to pick up pace. So there are a lot of Buyers out there looking to move.
The downsizers also are certainly beginning to gain momentum – all encouraged by the turn of the tide to begin to lean towards a “Buyers” market.
Thinking about moving in 2023-2024
If you are even thinking about moving, now is the time to contact a Buying agent, as doing this before your property hits the market is a very good way to get everything in order – and to help plan the year or two ahead. Having have early outline brief makes all the difference when it comes to understanding what sort of o house you can aim for and what area you want to be. There are lots of questions that need to be raised that will help you navigate the year ahead and with the timings of your sale. if you would like a quick call with me to talk things through – please book a call here.
There is no question that the cost of living and significant hike in interest rates will of course affect the market, and which may impact significantly at lower price points; this however will encourage further movement for downsizers – as in the past, the limited level of high prices stock and significant demand has made a move a more difficult option.
All the agents I speak to are doing large numbers of valuations which is encouraging; furthermore, guide prices are coming more into line with the expectation for buyers. The critical young family bracket between £1.25-£2M has always been competitive and this is certainly going to continue in the early part of this year.
As every year, a lot of Vendors are waiting for the Spring; however now if an exceptional time to get your property on the market, albeit quietly with agents, as in the Spring there will be significantly more stock; right now the levels remain low.
I am viewing property now that will come on in the Spring;
This is going to be a very active year for Buying agents as volumes of cash buyers remain high – and it is a case of getting in early and being ahead of curve.
Where to be?
In terms of popular areas, the regions South of the M4 around Bath, Chippenham & Marlborough are coming into their own. The Stroud valleys continues to gain significant traction – and for those looking for perhaps more land and bigger property are finding the right homes further West along the A36 in areas around Stinchcombe and Wotton-under-Edge – where excellent access to Cheltenham and Bath schools remain an option. Cirencester, Malmesbury and Tetbury remain as popular as ever.
