With house prices on the rise, lots of buyers are holding off on their property searches in the hope that the market begins to cool but here’s why that might be a bad decision.
The instinct to hold off is understandable. Usually, when something is in popular demand, the price gradually creeps up until it becomes too expensive but, give it a bit of time and, you’re likely to find excess stock thrown in the bargain bin.
All those that bought at full price are then envious of the savings – unfortunately this can’t be said for the housing market.
Since the beginning of the pandemic, the housing market has certainly created a seller’s market. There’s a huge demand for property, particularly in the south-east where there’s lots of countryside and outdoor space and with major Stamp Duty savings, many buyers were willing to pay that little bit extra for those all-important luxuries.
It’s looking like bad news for those buyers waiting for activity to slow, as this trend is predicted to continue for the next 36 months at least.
So, will the housing market begin to slow in summer 2021?
All signs suggest that the market is going to remain as hot as the upcoming summer months, so waiting could mean you miss out on your perfect home.
Our advice is to sign up to our property alerts where you’ll be updated on all our latest properties that match your criteria and speak to your local branch. We can give you some great advice on how to beat the queue and get early access to properties before they even hit property sites like Rightmove and Zoopla – yes, that’s really possible!