Welcome to the September 2022 property market comment.
There is no denying that the incredibly strong property market we have enjoyed right the way through the pandemic is no longer at its peak and some people are concerned that inflation, along with higher interest rates, could send the market in the opposite direction.
However we don't necessarily agree with this, the major indicators remain positive – both interest rates and unemployment are about a third of what they were in the early nineties. In those days, people simply couldn’t afford to pay their mortgages and were worried about their jobs, prompting thousands of forced sales at below-value prices. That’s not where were at now. We have strong employment and a massive housing shortage, exacerbated by the lull in new building projects during lockdown.
We're great believers in keep calm and carry on – that’s what drives us and that’s what our customers expect. Certainly it’s a time to price sensibly, but you can still be ambitious – don’t forget your property is probably worth about 10% more than it was this time last year – and our clients are delighted with the results we are continuing to deliver.
So what’s the best way to secure the best price? Listen to the opinion of our senior agents. They DO know what they are talking about, and their advice is both sincere and reliable. Their job is to help you maximise both your chances of a swift sale and the price potential of your property.
With regards to the rental market it is still in a very strong position. Quite simply tenant demand is up whilst property availability is down which means we are receiving record numbers of enquiries for every property listed so if you're thinking of letting your property now may be a good time.
Whatever the market, our role is to defend your position and if you’d like to find out more about how we can work together on this, please feel free to contact us today - you might be pleasantly surprised.
Best wishes
David