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Why the time to sell is right now

Today's property market offers great opportunities...

In the current property market, sellers are in a strong position...

More buyers are bidding over property asking prices than at any point during the last few years. The UK’s property market is hot at the moment, with buyers battling to secure desirable properties, in sought after areas, with the right amount of space. But should you sell up and cash in or should you hold on until things settle down?

Let's discuss.

What’s happening to house prices?

Over the last six months, we’ve seen record highs in property prices throughout the UK, particularly in areas with access to green spaces and strong transport links. We’re also seeing more buyers enter the market each month as mortgage applications and approvals continue to rise. These are key trends that look set to continue and there are strong indicators of this Autumn being a fantastic time for sellers to come to market. 

According to Rightmove, buyer demand for mid-size, family homes is still growing and their latest analysis shows that the chances of finding a buyer for your home promptly remain high. Our agents are reporting shorter and shorter sale times each month and the average time for a newly listed property to sell in the UK is now around 36 days – 30 days faster than in February 2020, the last month before the first lockdown.

How much can I sell my house for?

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Is your home in a property hotspot?

Until recently, London was home to the UK’s most in-demand property, however, a new desire for affordable, suburban living with more space is now taking effect. Areas across the southwest, northeast and most notably Wales are now in high demand as homebuyers prioritise beaches and countryside over the city centre. If you own a home in any of these areas, it may well be time to sell. Visit our recent article to discover where UK house prices have increased the most.

What’s happening to mortgage rates?

Property expert, Toby Phillips told us "strong buyer demand has been further boosted this year by the new Government guarantees enabling lenders to return to the widespread availability of 5% deposit mortgages."

These near record mortgage rate lows are driving many buyers to offer on homes. Because the housing stock on offer is low, home values are driven up. Sellers can capitalize on this.

Should I sell my house now?

Deciding on the best time to sell a house isn’t an easy decision but certain trends can give a strong indicator of when to do it. 

Have a think over the following questions. Is buyer demand high? Are lending conditions favourable? Is your home in a property hotspot?

If the answer to these questions is yes, you’re in a strong position. From rising buyer demand across the UK to the favourable lending conditions for buyers, to the lack of housing stock, which is pushing up house prices, there are so many reasons to put your home on the market now.

What's next?...

Choosing a good agent to work with is key to ensuring your purchase runs smoothly and quickly. You don’t have time for delays and dilly-dallying. It’s important to choose an agent who understands your local marketplace, has plenty of experience and access to other property professionals. We can take care of the whole process and have all of the services you need under one roof – valuations, finding a buyer, speedy legal services, and much more. 

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