Five reasons why it’s time to buy property now Exceptional South London Estate Agency. Committed to achieving the best price. Clear and fair fees. Suzanne Vincent a property industry professional for more than 25 years. Focused, enthusiastic and determined. Areas we cover: Herne Hill Brixton Peckham Dulwich Loughborough Junction Camberwell and Denmark Hill Urban Village -Estate Agents South East London are genuinely customer focused, determined and calm, providing clients with a high level of professional expertise. Rightmove has just released its House Price Index and it makes for very interesting reading. It gives a national picture of house prices over the last few months and what’s been going on in the property market. The bottom line is that in a tougher market, sellers cannot afford to be over optimistic, which makes it a good time to be a buyer and to negotiate a better price.
What makes a house sell? The right price in the first place Miles Shipside, Rightmove director and housing market analyst commented: Rightmove analysis of over 100,000 properties that successfully sold shows that those that sell typically generate over 40% more online interest in the first three weeks than those that do not sell. The danger of going too high at the outset is that you jeopardise that vital initial three-week period, and may have to start on a series of price reductions while potential buyers watch and assume that no-one is buying your property because something is wrong with it other than the price.
An average reduction of over six percent means that some properties will be considerably more over-priced than that, and such a big margin of error in the initial price of many properties that come to market can leave them stale and unsold.” Sellers should take note, buyers should take heart. New home for Christmas, anyone?
Here are five reasons why it’s a good time to buy property now: 1. It’s a buyers market. New and existing sellers are taking part in an Autumn sale, as price cuts by existing sellers hit a five-year high, to tempt buyers, finds the Rightmove research. 2. New-to-the-market sellers are trimming the asking price of property this month, albeit by a modest 0.8% (-£2,392). 3. Over one-third (37%) of properties already on the market have reduced their asking price since first listing. 4. With existing sellers holding an Autumn Sale and obviously keen to sell, there’s an opportunity for buyers to negotiate a good deal in the quieter run-up to Christmas. 5. With stretched buyer affordability tested further by the recent interest rate rise, sellers should be increasingly wary of over-pricing rather than hoping for a Budget reduction in stamp duty to boost buyer activity. All of which makes it a buyer’s market. Prices in London are not going to be reduced forever. So if you’re looking for a new home – and are keen to bag a bargain – what are you waiting for? If we have made a positive impact on you, please kindly leave us a review on our Facebook page: Facebook/urbanvillagehomes To find out what your home is worth right now try out free instant evaluation tool.
For more information see Estate Agency South East London, pop into our Denmark Hill branch or email us at info@urbanvillagehomes.com Or Reach us @ www.urbanvillagehomes.com