Home-Hunters Want to move, but sellers are that keen....

So, what’s the mood like in today’s housing market? A new ‘State of the Property Nation’ report* noted growing eagerness among would-be buyers, with nervousness about the economy causing sellers to hold their fire. The subsequent COVID-19 outbreak will no doubt have an impact.

Buyers becoming more bullish

Finding the right property at the right price is always a challenge for home buyers, but the good news is that the number of house hunters feeling frustrated by these difficulties has fallen five percent in the past year. Meanwhile, almost a third (32%) of active property seekers say they are more serious about moving than ever.

Home sellers not sure about asking prices

It appears that sellers are less convinced by the so-called ‘Boris bounce’ than buyers and remain cautious over ongoing economic instability. Sellers seem particularly worried about not achieving their asking price, with 31% of aspiring sellers concerned that buyers won’t be willing to pay what they feel their property is worth.

Expert Opinions

Are prospective sellers justified in feeling so anxious? Well, maybe not. Experts predict modest house price growth this year, with two leading estate agents predicting growth of between 1% and 2%.

Looking further ahead, one  leading estate agent forecasts a significant, albeit cumulative rise in house prices of 15%, over the next five years – but is cautious over regional differences. And, while the true impact of Brexit might remain uncertain during the 2020 transition period, it seems that three-quarters of Britons overestimate the negative impact the whole Brexit process has had on house prices

Buying or selling

Whether you’re buying, selling, or both, property transactions can be daunting, so it’s little wonder that many remain cautious. That’s where MDFS can help. We can assess your financial situation; help you find the right mortgage deal for your circumstances and offer professional advice to ease your doubts.

LEGAL STUFF

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Massey Divall Financial Services are an appointed representative of The Right Mortgage Limited which is authorised and regulated by the Financial Conduct Authority.

The Financial Conduct Authority does not regulate most buy to let mortgages.

The guidance and /or advice contained within this website is subject to UK regulatory regime and is therefore targeted at consumers based in the UK

Conveyancing isn’t regulated by the Financial Conduct Authority.

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