It’s a buyers’ market: why now might be the time to snap up property
Parliament is in recess at the moment for the summer break, meaning that there’s not been much in the way of concrete developments on Brexit. However, in recent days, there have been a number of news articles dealing with the thorny issue of house prices at the moment – and whether or not Brexit poses an opportunity for property buyers to get on the ladder. Here’s a round-up.
Others are doing it
The most recent evidence shows that there has been a distinctive move towards property buying in recent times. Although Brexit uncertainty may make some sellers want to hang on, Rightmove has shown that the number of sales in August this year went up by just over 6% on a year on year basis in the month running up to 10 August.
The reality of the situation is that there will always be homes on the market: whether it’s a result of relationship breakdowns, a change in circumstances, a new job, relocations or something else altogether, people will always want to buy and sell homes. Not even Brexit can get in the way of these processes, and hence buyers will find that they are not necessarily going to be stuck without options.
Worth the wait?
However, it’s also worth pointing out that predicting property market movements is always a difficult task, and nobody has a crystal ball into the future. One recent article even suggested that the government could be considering reversing the stamp duty policy so that sellers pay rather than buyers, but it could well be next year before that happens – so it may be worth waiting.
If you have a house to sell at the moment, a buyers’ market is not always a good thing. If you desperately want or need to move but are finding that you can’t shift it, the best thing to do may well be to sell it to a property buying firm in order to release that all-important equity as soon possible.
Learn more about how NPT can help you do this today and get your moving processes in motion right away.