Time to Spring into Action?

from Rutland Pride March 2023

Night & Day

After a brief slowdown during the final months of 2022, buyers and sellers are now re-entering the market in greater numbers presenting both opportunities and challenges for those planning to buy a property.

Whilst this increase in appetite to move is resulting in more homes for sale, uncertainty remains surrounding property values with the slowing down of price growth. Buyers are right to maintain an air of caution but also must be mindful that the most sought after homes will still command a premium price.

The right price

With roughly a third of property transactions not dependent on lending and funded entirely by cash, together with the fact that over a third of home moves are made out of necessity, people will continue to move home regardless of the political and economic landscape. For all homemovers, regardless of their motivation, paying the right price when moving home is incredibly important.

Local micro property markets are moving at their own pace and are experiencing varying degrees of changes to pricing. Homes that are considered to be the most desirable maintain a scarcity value and buyers should expect competition and potentially paying a premium to secure such a property. Some sellers though are attempting to achieve a post-pandemic boom price for their home which simply does not align with the current market climate.

So, how can buyers determine the right price for a property? Firstly, the length of time it has been on the market often serves as an indication as to whether the price is appropriate; whether it has had a price reduction will also be visible on a property portal. Secondly, although there can be a delay in recording of sold prices, it is always worth researching recent values of nearby transactions of comparable properties. Off-market homes will not have a live digital footprint so greater research is needed. Navigating property values in a moving marketplace, where uncertainty is present, can be overwhelming and buyers might benefit from the professional guidance offered by an independent expert. A property finder can offer assurance when it’s most needed; being immersed in their local market they are able to share valuable insight regarding property prices.

Selling and buying at the same time

Whether upsizing, downsizing or relocating, many homemovers will have two transactions taking place in tandem. Selling and buying at the same time can often require greater planning and consideration.

With there still being a shortage of prime homes for sale, some sellers are preferring to sell off-market through their estate agent. This can offer sellers opportunity to test the market both for pricing and appetite prior to spending time actively searching for a home to buy. With a surprising number of homes continuing to be sold discreetly buyers can benefit from professional representation to ensure access to all opportunities and, furthermore, receive guidance crucial during negotiations which, at this time, is particularly important.

SPRING FRESH for

A light green and canvas-coloured reﬂects the brighter, natural hues of spring as a sense of freshness returns to both home and garden...

Stamford & Rutland Interiors: Broughtons: Leicester, 0116 2341888,www.broughtons.com. Delcor Interiors: Stamford, 01780 762579, www.delcor.co.uk. Elizabeth Stanhope Interiors: Oakham, 01572 722345, www.elizabethstanhope.co.uk.

H-Works: 01780 754605, www.hworksdesign.co.uk. Hunters of Stamford: 01780 757946, www.huntersinteriorsofstamford.co.uk.

Sarah Harding Interiors: Uppingham, 01572 823389, sarahhardinginteriors.co.uk.

If you want to enhance the style of any room in your home, adding beautifully crafted curtains, distinctive blinds or unique cushions could be the solution. We are specialists in made to measure soft furnishings and have an inspiring range of decorative fabrics to personalise your home. Call into the showroom for a chat and to see our latest collections.