Thinking of moving? Now is the time to look ahead to 2022
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And so we are on the final push towards Christmas and the decorations have started to appear and the famous brands are releasing their adverts to kick off the festive season. The property industry is already looking forward to what the market might look like in the new year and the year ahead.
With the announcement of a rise in interest rates and the news reporting mortgage rates starting to increase as a result, how will this affect the market going forward?
At this current point in time buyer activity remains high, continuing the trend this year, however the expected slow down of the lull before Christmas seems to have begun meaning that less properties are coming to the market. Even though there are still a high number of ‘set to go’ buyers out there, particularly looking to move to the South West, many prospective sellers I speak to have parked their plans until the New Year or early Spring.
It is worth noting that if you are considering a move either in the new year or early spring, now is a really good time to open a conversation with your local or preferred agent. There will be less work on their desks at this time of year and they can give you time to have valuable discussions and understand what the value of your property or land may be – prices have changed considerably in the last 12 months.
It’s also a good time to make any required preparations to your home ahead of a sale. Recent years have shown that Boxing Day is one of the busiest days of the year for online property searches. Once the Christmas dinner has been packed away and before the cold turkey has come out couples and families usually spend time together and have discussions and do their research into a new home. If you do happen to be on the market at this time you are in with a chance to be seen by the millions of visits to, and as reported by, the main online property portals.