Our last newsletter of the year!

Market predictions for the new year

 

Market predictions for the new year

 

The trio of low mortgage rates, the stamp duty holiday and changes in buyers’ priorities have all contributed to the incredible demand within the housing market in 2021. That is why we’ve managed to see an incredible leap of 30% in buyer interest across the five-year average.*

 

As the new year draws closer, we explore a few factors that are in store for the property market for 2022.

 

1. The return of first-time buyers

 

Whilst the demand is there, the range of buyers has changed.

 

At the start of the pandemic, most buyers were in the wealthier bracket of society and owned higher valued properties. Now that we’re seeing an improvement in mortgage affordability, the door has opened back up to first-time buyers!

 

If you’re a first-time buyer, we don’t expect the market to slow down anytime soon, so you’ll need to ensure you’re prepared to move quicker than normal when you find a property you like.

 

A good way to stay ahead of the game is by getting a mortgage in principle before you start house hunting.

 

Mortgage in principle (MIP) = this is a statement from a lender that they would lend you a certain amount and can assure a seller of your financial standing.

 

2. Race for space continues

 

Another domino effect from the pandemic is how homeowners began to prioritise space as one of their main needs in a property.

 

The combination of being cooped up inside, as well as businesses moving to remote working meant that people naturally discovered how much they valued space.

 

If you’re thinking of moving to find a property with more room, the time is now to get a move on with the process – especially with demand being high and surpassing supply.

 

Stay one step ahead of the game and book your up-to-date property valuation with us this month.

Why January is a great time to sell

 

Why January is a great time to sell

 

It’s a common misconception that market activity lulls in January, ready to resume in the spring. But with demand levels still on the rise, this couldn’t be more wrong for 2022 predictions.

 

Many see the new year as a chance for a fresh start, and that can mean homeowners are on the hunt to physically change or improve their surroundings.

 

The number of people window-shopping on Rightmove on Boxing Day last year was 50% higher than the year before.*

 

To help you decide whether to take action, here are some of the top reasons why you couldn’t pick a better month than January to sell.

 

People are on the move

 

Statistics indicate that January is the busiest time of the year for employee redistribution or staff members moving around.

 

With many of us spending Christmas at home, it can also be the final push needed for first-time buyers looking to move out or a household to decide they need somewhere with more space for the year ahead.

 

There is less competition

 

After the holiday season has come to an end, conditions are optimal for serious sellers, as many homeowners tend to take their time listing their property.

 

This means that if you work with an agent over the next month, you could get ahead of the competition and really stand out on the market.

 

Show off your home

 

Intelligent buyers house hunt in winter, as properties tend to look their worst in these months.

 

So, if your home looks spectacular and is well presented by your agent, then it will impress viewers as they will assume your property looks even better in the summer! This mentality will draw in potential buyers.

 

Placing your home on the market in January shows confidence in your home – a fantastic starting point in convincing people to buy the property.

 

If you are looking to take advantage of the lucrative new year market, please book your valuation today or simply give us a call!

 

*Rightmove

Property prices likely to continue rising

 

Property prices are likely to continue rising

 

After the rollercoaster year of 2020, 2021 was a difficult year to predict in the housing sector. With a return of stability to the market, we can look at the forecast for the new year.

 

More than 22% of homeowners plan to move in the next 18 months, due to direct results of the pandemic. In a recent survey, it has been revealed that those most likely to move were younger people who live in cities, suburbs or large towns, and those who have had working patterns shift from COVID-19.*

 

According to Zoopla, the main drivers for the sector will be “an ongoing re-evaluation of housing needs, increased housing equity and moves in parts of the labour force to more hybrid working.”

 

The portal forecast a 3% increase in house prices across the UK in the next 12 months, which is predicted to affect around 1.2 million property transactions.

 

With the expected house price gains, it is likely that we are going to see more sellers coming to market in the coming months, but a continued low supply will support price inflation.

 

Housing remains affordable in many markets and competition with mortgage lenders will keep rates low, leading to a sturdy appetite in the sector for 2022.

 

There will always be waves of demand across the country, with the biggest price increase expected to continue in the North West’s flourishing market at +4%.

 

Zoopla has also suggested that because mortgage rates are at a record low of 0.1%, buyers are becoming accustomed to these low rates. It has been predicted that rates will reach an average of 3% by the end of 2022, giving buyers a push to act sooner rather than later to secure cheaper borrowing conditions.

 

If you are looking to take advantage of current property conditions, book your valuation now and put yourself in a good position for 2022, or reach out to your local branch for more information.

 

*Zoopla

Best seller's market in a decade

 

Best seller's market in a decade

 

Over the past year, the housing market has had its fair share of ups and downs.

 

A lot of people were worried about buying and selling, leaving the market vulnerable at times. Yet despite this, market conditions are keeping to a continual high and exceeding expectations, making it the ultimate market for sellers.

 

Why is December a good month for home sellers?

 

The main reason is because the quality of buyers looking to find a home is higher than any other time during the year. If you also combine that with the low supply in available properties on the market, you’ve got the perfect opportunity to grab the attention of potential buyers.

 

This time of the year is a hectic one, with people spending quality time visiting family and friends. On the property front, it’s also busy, especially with homeowners keen to move within the first few months of the new year.

 

The main catalyst behind this is that people experience a change in their property priorities, pushing them to seek a new home.

 

In fact, 78% of UK sellers felt certain that they would sell their property within the next three months and purchase a property during that same length of time.*

 

Are you eager to match your home with serious buyers?

 

Get in touch with our team today to make sure your property journey is a valuable one, we're just a single call away!

 

*OnTheMarket