The property market is buoyant at the moment, making it a great time for sellers everywhere – RightMove has found that for the first time since 2007, asking prices are at record levels in every region and for every type of property. So, if you’re thinking about selling your property, there’s never been a better time to get a great price.
High demand means that it’s likely your property won’t stay unsold for very long either – hopefully making it as smooth and stress-free as possible, which is one of the biggest factors that can put people off selling.
Lots of Buyers, not enough Properties
If you put your property on the market then it’s a safe assumption that there will be a very healthy number of buyers looking to view it, as the market is so competitive at the moment. For every property sold, there are a high number of buyers who have missed out and will be looking for their next viewing.
The covid-19 pandemic has given people a new sense of urgency to buy a property that suits their lifestyle or look for a fresh start. Buyers are surer about the type of property they want and are more assertive about viewings, instead of time-wasting.
Buyers are also being helped by the fact that mortgage rates are more favourable right now and lenders are keen to lend with interest rates low. It’s a good time to get a mortgage offer in principle from a provider, especially before interest rates rise which they are predicted to.
You might have always dreamed of a certain type of property in a specific location but it’s been just out of reach and not quite worked for your budget, however with record high prices being achieved it’s the perfect time to maximize the price you can get for selling your property and ensure your budget for a new home is maximized too. Lots of buyers means lots of properties being sold aswell, so you’ll have a generous amount of choice when buying a new property.
As pandemic restrictions have lifted and we’re moving towards more normal lifestyles again, people’s optimism is returning and they want to make life changes and take advantage of freedoms once more. You can feel more optimism in the marketplace, as people are eager to get things started and sorted as soon as possible.
If you’ve got a mortgage offer in place and have sold your property fairly quickly in such a buoyant, busy market place then that will put you in a good position in a competitive market when looking for a new property, as buyers in a position to proceed are looked at more favourably by sellers.
For more info, tips or advice about selling your property or the property market in Tameside, please get in touch with our experienced team at Home EA who are happy to chat through your options and find the perfect property for you.