As lockdown 3.0 continues you might be wondering what is going on in the property market.
Watch the video below or continue reading to find out more:
Here are 3 quick reads to help bring you up to date:
The property market remains open. Unlike in lockdown 1.0 which meant many home sales were paused this time deals are continuing to go through.
All be it at a delayed pace as many home owners try to hit the stamp duty deadline this has added a backlog of sales all rushing to complete:
Will there be a house price crash?
There is so much written every week that grabs headlines like this. The truth is many of the top experts get it wrong as was proven by the predictions of a fall in house prices last year.
What we do know though is that the gap between those that can buy and can’t is widening and the impact of Covid 19 and the end of furlough has yet to be truly felt.
To get a sense of the latest opinions here is a good overview with some predictions:
https://www.ft.com/content/01d7dad0-c8f2-45e6-9ca0-7304df622314
It also talks about a small fall in asking prices fall over December but this could just have been people trying to get a buyer before the end of the stamp duty holiday so January’s figures will be clearer.
What we are seeing here at Move Engine?
Many of you are still keen to buy your first home and are keen to get on the property ladder this year.
Some of you have had to save that bit harder to reach 10% deposits and this has delayed your plans from last year.
Others are struggling to actually find a property or being out bid on homes.
What might affect your ability to buy this year?
Rightmove is seeing record buyer interest levels as reported in January:
https://www.rightmove.co.uk/news/articles/dream-properties/busiest-ever-month-on-rightmove-as-confidence-returns-to-market/
What does that mean?
More of you competing to buy the same property
If you want to get ahead or avoid missing out then our top tip is get as prepared as you can to buy.
From getting everything in place from your finances to figuring out what you really want in a property ahead of time so you can move quickly when the right property shows up.
We have just kicked off our new programme of first-time buyers who we are helping onto the property ladder.
The February group have started which is great to see so we are looking for those of you who want to start in March.
If you missed out on our free coaching sessions and want to hear more just
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