New Financial Year New House
We would like to believe the property market is going to continue to be buoyant and prices will increase, but the question is as always; when is the right time to buy or sell?
There are various reasons why people move house; expanding families, lifestyle aspirations, employment, to get on the housing market ladder but the main reason is a financial decision. It is mainly clients who are looking to buy a property as an investment, who have additional funds early in the new year. Some have tax allowances to use before the end of the tax year, they may have tax refunds due, profit to spend and therefore buying now in March/April is perfect timing. The national average amount of time it takes to buy and sell a property is 8 to 12 weeks. The timing of the offer and time taken to instruct a solicitor will make a difference. Tollers understand these pressures and 97.5% of our clients, who use us to buy or sell a house agree, as they have confirmed they would use us again.
With Brexit looming, no one is certain what the mortgage lenders will do in the future. Will they offer fewer products, increase interest rates, restrict lending to people with larger deposits? Facing this uncertainty, cautious people will wait, but the financial advisors’ opinion is that the rates are currently at some of the best offered so people are securing them now.
Most of the large national housebuilders’ year end is December so they do not market many properties in first quarter of the year. This leaves the market for second hand properties in a better position. This means not only is now a good time to buy a property it is also a key time to place the property on the market for sale. There will be less competition with new homes.
If you are considering a buying or selling a property in 2017, Talk to Tollers on 01604 258558 for all your buying and selling property needs.