Sell At The Right Price
House prices are the hot topic everywhere at the moment and there is a mixed picture of the value of our homes in the UK.
Last month Halifax said that prices were unexpectedly up by 1.6% annually whilst another survey from Nationwide claimed that they had fallen 3.1% which is the biggest fall in 14 years.
All of this makes it hard to decipher what exactly is going on for house prices but one thing is for sure – if a property is marketed at the right price it will sell.
Very often we are seeing property not moving and disappointed sellers who are not getting any viewings so maybe the time has come to think again. There is a need for vendors to recognise the shift in market dynamics.
If the marketing is done well, great photos and descriptive listing copy as well as an agent that is proactive with their existing buyers then it is time to think about making changes to either enhance the property with home improvements or reduce the price to get the viewings.
There are areas where property prices have doubled in the last 10 years but it is unlikely that we will see as much house price growth in the next decade as the market is slowing down and coming back to a more reasonable pace after the frenzy of the past couple of years.
According to RICS survey property sales levels are expected to improve in the next 12 months and overall prices nationally fared better than in the previous month which breaks the sequence of ten consecutive months of deteriorating prices from April 2022.
Whilst many buyers have been sitting on their hands watching the market, it would seem that they are now beginning to emerge and cautiously start getting on to the property ladder.
