Mon, 06 Mar 2023 | Market update
With signs of inflation coming down, mortgage rates continuing to drop, buyer and tenant demand remaining high and a lack of supply still proving to be a challenge, we are excited to be heading into the busiest seasonal period for agreed sales/lets of any given year.
I think we can all agree that 2023 started fuelled with the opinion that this could be a challenging year ahead, and whilst we are no means back to normal there are so many positive signs for the housing market. In the first two months of this year, we have seen an increase in sales and lets agreed in all price ranges, thus providing the confidence that things are moving. It’s really encouraging to see the property market finally stabilising following the ‘bullish reactive’ market immediately after lock-down.
According to a recent article, at least 8 out of 10 investors are currently choosing to invest in property over anything else. Our statistics show that we are currently successfully completing 9.5 out every 10 properties listed to let and are agreeing property sales at 98.3% of asking price, which is really positive for any prospective seller or landlord to see.
So, as we approach the Spring and the busiest time of year and take confidence from how the year has started, we would relish the opportunity to talk to you about any pending moves or investment opportunities.