Land of confusion
It’s pretty tough to gauge which way the property market is swinging, even for those who watch it avidly.
A lot of estate agents will tell you how that’s why they’re worth the thousands of pounds they charge in fees – and there’s no denying a little advice or guidance from someone who has worked in the property game for years is worth having.
However, having said that, a home-grown analysis of your local housing market can give you a pretty good idea of the state of play. Both Rightmove and Zoopla have some pretty useful tools on their websites and, as a result, it’s not all that difficult to assess what the asking price ought to be for your property. A little more research, and you should be able to see what homes in your area actually sold for. Another click of a mouse and you can even see a graph which illustrates recent price trends specific to your patch (https://www.rightmove.co.uk/house-prices-in-my-area.html).
For what it’s worth, at Esaleuk.com, we reckon we could soon see some changes in the market, particularly if the Bank of England delivers on its threat to raise interest rates in 2016. We’re already seeing lenders cut the number of cheap mortgage deals in anticipation of the move and figures quoted by the property media suggest fewer homes are going on the market as sellers wait to see which way things go. On the other hand, the lack of property available means it’s still a sellers’ market and, if you’re thinking of moving, now might be the time to jump.
The truth is that, until there is a single source of information on the performance of the housing market, some confusion is inevitable. But, if you need a free, no-obligation valuation or just some old-fashioned advice don’t be afraid to give us a call. We’d be happy to help…