Demand for property is really high at the moment (*) and, with the easing of the current lockdown now underway, it’s possible that even more homeowners will start flooding the market eagerly looking for their next home - and that’s when the frustrations may come.
Despite high demand, the choice or properties on offer could be slim, because existing homeowners are holding back on marketing their property until they find something themselves to buy – the result, a Catch 22 position. Lots of buyers waiting for other ‘would be’ buyers, further up (or down) the chain, to make a move and until someone does, property choice becomes limited and you may find your dreams of buying have to be put on hold.
The answer? Get your property on the market as soon as possible to take advantage of the current demand and, if everyone follows, enjoy the host of properties that you too could start viewing as your potential next home.
It’s understandable that some homeowners might be worried about putting their homes on the market without another property to move on to but, with the homeowner in the driving seat, that shouldn’t be the case.
As more and more homeowners put their property on the market, more and more buyers will see properties appear, and market activity can increase. Those selling can then agree completion dates and moving dates as time goes on but, until the ball gets rolling, that eventuality is just not going to happen.
At Reeds Rains we’ve got a host of buyers waiting to make a move, from first time buyers, to those moving up, and down, in size and, with the recent stamp duty holiday extension and the new mortgage guarantee scheme announced – there’s added impetus for some buyers to make a move. As a homeowner, just make sure you take advantage of it and make your property dreams can come true too.
(*)Zoopla House Price Index Report January 2021
(**) Terms and Conditions apply