This week I want to talk about the current sales market conditions. Obviously, we have been on a downturn for a couple of years now with house prices slowly declining since Brexit hit. I’m delighted that Vendors have now got their heads around the fall in prices and are working with their agents in reducing the price and negotiating on offers to get their properties sold. Meanwhile purchasers more than ever are starting to realise that there couldn’t be a better time to secure a property. Prices are at their lowest in years whilst we are still benefiting from extremely low mortgage interest rates. Having ridden the ups and downs of the sometimes exciting but often turbulent market conditions I have to say if you are considering buying what are you waiting for? There has never been a better time to secure that mortgage in principle with your financial advisor so that you are ready to make an offer as soon as the right property comes up. For investors too, even though you have been hard hit by some of the governments changes on buy to let tax breaks its all about the capital growth. Once our country stabilises, and I am taking long term here – at least five years down the line, the property market will once again flip on its head and start heading in the right direction. Although the new build developments are still demanding super high prices concentrate on the re-sale market as that’s where the bargains are to be had. This opportunity doesn’t come very often so even if you have never thought of investing in property previously why not give it a shot now whilst the opportunity to snap up a previously unaffordable property is there. Investing can sometimes seem a little scary but if you already have a property with a decent amount of equity in it why don’t you release some as a deposit to fund a second property and make your cash work for you. as long as its rented then it will have no impact whatsoever on you financially now but long term when the market corrects itself there will be a good amount of capital growth to be had, it literally is the easiest way to make money and never has there been a better time, well not since 2008 anyway to make this happen for you. If you lack confidence in this area then find an agent that you can trust that can advise you wisely to ensure you know exactly what you are doing, they can introduce you to a knowledgeable financial advisor that can help with the re-mortgage to release the equity as well as arrange the new mortgage on the investment.
"I have always found you to be courteous and helpful, and willing to give me your time, even when the sales market is very buoyant. This includes both verbal and email communication".
Brendan Thomas - Surveyor
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