Summer season presents buying opportunity
- 16th August 2017
- Buying Property News
Purchasers advised to offer now before autumn rush
At the peak of the summer season, activity in the housing market naturally slows as many people take holidays or go abroad. However, this time of year does present savvy buyers - whether they are looking for their first home, or looking to move up the property ladder - an opportunity to steal a march on the buoyant Autumn season, when there can often be more competition.
With this in mind, those people considering buying a house should use this time as the perfect opportunity to get out and view potential properties - and take advantage of extended viewing times.
As we have discussed previously, buyers and those considering purchasing should note that the long-term fundamentals supporting the property market for London look set to continue, and indeed grow. London remains a beacon of entrepreneurial spirit and a significant pull for people from Britain, Europe, and the World - meaning that house price growth is set to continue in the long-term.
House prices are still rising steadily at a current 3-4% when compared to the double digit growth seen last year, with some predictions forecasting 12% rises by early next decade.*
All this means that now is a good time for potential home buyers to start looking - before, as anticipated, demand increases in the autumn months and the recently reported trend of sealed bids picks up at a stronger pace.
Added to this, the current good supply of cheap fixed-rate mortgage money has meant that those looking to buy a property have the confidence to move forward once they make a decision on their property purchase.
Stephen Ludlow, Chairman at ludlowthompson, comments: “There is no doubt that seasonal trends offer buying opportunities. Home owners looking to move up the ladder, in particular, will often want a purchaser lined up for their existing home before making an offer on another themselves, as they're more likely to secure an ongoing purchase this way."
*Daily Mail, November 4, 2016
There is no doubt that seasonal trends offer buying opportunities
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