Guest Blog by Justin Hemming, Director of Vision Properties
The big question for many of us at the moment is ‘what will happen to the property market?’.
Whatever your perspective on the property market, from first time buyer to empty-nester thinking about downsizing, the past few months have seen dramatic changes. A set of extraordinary circumstances including Brexit, Covid and the cost-of-living crisis have given all of us challenges as well as opportunities to think about when we plan our next move. It’s certainly been a wild ride.
Now we’re faced with new uncertainties in the light of the recent mini-budget announcements and subsequent U-turns!
Advice from Vision Properties if you’re considering a move
- Get a full picture of your property situation. Revisit your mortgage details and remind yourself of the features of your current product. I’d also recommend getting an up-to-date valuation of your property, so that you can make decisions armed with all the facts
- Try to take a balanced view between the dramatic headlines in the press and sometimes the overly positive spin from some other estate agents. It would be irresponsible to say that the market is still booming, but the fact is that people will always need to move house and live their lives and Knowle and the surrounding areas are historically robust from a real estate point of view
- Don’t do anything rash. The landscape is constantly evolving and if you can, it would be wise to let the dust settle before making any major decisions
All good property specialists know that selling and searching for a home places a big emotional load on most people, not to mention the practical and financial stress of a big move.
It’s not a new situation. The property market has been increasingly tricky to navigate for a few years, with unprecedented levels of competition for buyers, thanks to a mismatch between supply and demand. Prices have soared and things like the Stamp Duty holiday have led to surges of activity, making it harder to get a clear picture of the trends. In such a volatile environment, it’s important to be able to access solid advice.
For more information about Vision Properties, visit our website.