Homeowners across England breathed a sigh of relief in September when the Bank of England kept interest rates on hold for the first time in almost two years, notes Alasdair Morrison.
After years of exceptional growth, the UK housing market has started to cool under the combined pressures of economic uncertainty, increasing inflation, war in Ukraine, increased mortgage rates and a cost-of-living crisis. So, what’s next for anyone wanting to sell or buy in Newark and Southwell, he asks.
It’s important to note that these things are cyclical. In over 40 years’ local property experience, we have seen that a downturn will always be replaced by an upturn, so there’s no need to panic just yet.
For serious sellers, remember that you only have one opportunity to make a first impression with your property coming to the market, so it’s important that it is priced correctly towards buyers’ expectations. Take advantage of the advice offered by an experienced estate agent who knows the preferences of the local market to ensure your sale price is competitive.
If your house is currently on the market but isn’t receiving viewings, then speak to your estate agent about how you can improve your listing. Perhaps you need up to date photos or need to review the sales price. Work with your estate agent to ensure you get the maximum number of viewings possible.
The experienced Sales Teams at Alasdair Morrison are here to help and guide anyone looking to sell or buy property. Just call us on 01636 813971 or 01636 700888 to make an appointment. For rentals, call 01636 670977.
