There is no doubt that the current property market is challenging with endless, often conflicting reports showing prices rising, falling or remaining steady.
Transactional volumes have reduced as the market comes to terms with itself in an economic environment that is basically sound but has some areas of uncertainty that are causing people to take longer over decisions. Recent retail figures show that growth, whilst still positive, has slowed. This isn’t the best news for the economy but, for those borrowing or looking to borrow money it probably means that any increases in interest rates are less likely or further away.
At the same time the stock market has risen steadily since falling early in 2018.
If we project forward a few years it is likely that now proves to be a good time to move. There is a little more choice in the market, there are still committed sellers and buyers and the cost of moving is at its lowest level for years.
The rental market remains steady. The growth in supply has slowed as investors are more cautious following increases in stamp duty on investment properties but demand remains positive. This is likely to see rental values steady or improving over the coming months.
There really is no greater need than for a seller or landlord to seek experienced professional advice. Now is not a time to be seduced by cheap fees but to consider value rather than price. The cheapest agent is almost certainly the one who gets you the best end result not the one who quotes the cheapest fees.
Accurate appraisal, a strong marketing strategy, enthusiastic and knowledgeable staff and an ability to problem solve and see a transaction through to completion are key.
Any talk of a negative property market is wide of the mark. Yes, it is challenging but, when the going gets tough, the tough get going and we have been there, seen it and done it when it comes to successfully generating results in a variety of market conditions over many years.
The coming months are the most buoyant in the property market calendar as gardens start to look good and lighter evenings permit viewings after normal business hours. The desire of many to secure school catchment intakes for September brings an added urgency in many markets.
If you are thinking of selling or buying, letting or renting, please contact us and we shall be pleased to discuss your personal situation and the best options to maximise your moving goals.
Chris Harper and Darren Murphy