With one of the busiest times for home-buying now on the horizon, those with their sights set on a summer move, should probably be feeling more than a little encouraged to dust off their relocation plans!
The reason isn’t just that recent industry data points towards an end to the challenges of mismatched supply and demand - the impact of which not only thwarted many buyers’ search efforts, but played a role in pushing property prices to the pandemic year highs.
It’s also that general optimism over how economic conditions might evolve in the next six months seems to have improved markedly, thereby paving the way for a much calmer, more measured market.
With these factors ultimately resulting in 14% more properties coming to market than the same two week period in 2021, the likelihood of motivated buyers now finding a suitable property has received a welcome boost.
As a knock-on effect, mortgage applications are also on the rise, with informed buyers now manoeuvring themselves into the best possible position to strike while the ‘new listing’ iron is hot!
Among these new-to-market listings is this three bedroom, semi-detached family house in Treesmill Drive, Maidenhead, which offers modern contemporary living space, and is conveniently located for local schools.
Summary
On the whole, the return of choice means it is likely to be an active year for home-buying. However, data on the current state of the property market does remain confusingly mixed, with several key factors standing in the way of a full recovery.
Mindful of this, some more cautious movers might be waiting to see where exactly house prices go next…and how much headroom the next year manages to carve into household budgets.
There are certainly arguments to both sides, but with the proportion of properties seeing price cuts having dropped to 24% (and with prices actually having risen 0.5% during April, according to the Nationwide house price index), the ideal time to buy might not be as far off as the ‘market slowdown’ hyperbole suggests.
Yes, prices might well be 4% down on last year’s peak (according to The Telegraph) but consumer sentiment is certainly shifting, and hyperlocal factors mean not all areas of the country are following the national trend.
Equally, the market is increasingly being propped up by the burgeoning number of first time buyers being forced to exit the rental market - the implications of which chime with the more optimistic consensus, that now might in fact be as good a time to buy as any.
For more details on the featured property or similar listings, please contact Braxton on 01628 674234 or email property@braxton.co.uk