Spotlight on Sales & Lettings

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IS NOW A GOOD TIME TO MOVE?

This is a question I am asked almost daily, and my answer is always different depending on your circumstances. So there is never a right or wrong answer.

If I am however asked what my personal prediction is for house prices in our area specifically, I would be very honest with this response, based on a few factors:

With the latest – an astonishing sixth interest rate base rise this year – I cannot see the prices continuing to rise or boom as they have been over the last two years. Affordability will be down, cost of living will be up, and we are already seeing an increase in the mortgage lenders and valuers being stricter with their lending upon survey.

Demand and desire in the area is always going to remain high here in BH21 and BH18, and the prices are still up some 10-15% in some circumstances on what they were just two years ago. We have seen a big increase in the amount of market appraisal appointments, which would suggest a number of people are making their decisions now on whether to remortgage or make a move.

More properties coming to the market will start to give more choice, evening out the supply and demand issue which forced up the prices we have experienced in the last couple of years.

So in summary – If you are looking to just sell you may be best to capture the market as it is now. If you are looking to buy and sell you will be in the same market, so time is more on your side, however if a mortgage is required the monthly cost may well see increase again on repayments.

I remember an old saying my boss told me when I was a trainee and we hit a slump after I started in 2006. He said that there will always be the three D’s that will keep the market moving. Death, Debt and Divorce, which I found very negative, however it’s something that has stuck with me till this day. So if you are still struggling to find a home I feel things will only improve with supply, and that levelling of prices I personally feel is upon us.

If you are intrigued about the value of your home and would like a no obligation and honest chat, give me a call.

becky.p@meyersestates.com

01202 818220

www.meyersestates.com/wimborne-and-broadstone