Property market hots up as temperature (and prices) rise.
Unlike heat waves in years gone by, where the property market has virtually shut-down as buyers focused more on the beach and barbecues than looking for houses, the summer of 2013 is proving to be quite different and could form the platform for the busiest second-half-year of property sales for a very long time.
While some buyers have undoubtedly swapped property viewing for swimsuits, cold beers and Pimms, those that have been around during the hot spell (and there have been plenty of them!) have been pretty determined to find a property and happy to pay a good price – no doubt prompted by the increasing confidence in the property market.
Rightmove's latest consumer confidence survey, which collates more than 25,000 responses from home-movers, show that 62 per cent expect property prices to be higher than a year from now – double the 31 per cent recorded a year ago.
Properly priced property is attracting plenty of interest and we have seen a marked increase in sales of 'mid-market' properties – between £300,000 and £600,000 as second- and third-time time movers become more willing to increase their financial commitments – ahead of the second phase of the government backed Help to Buy scheme in January, when other (currently frustrated) 'would-be' sellers can take advantage of a 20 per cent loan to make up their deposit for their next home.
The fine weather is also having a very positive impact on our Open Houses, with busy buyers taking advantage of the flexibility and freedom to view a property at short notice, or booking well in advance knowing that they can easily work around other commitments.
On the rental front, this is a very busy time of the year for us – regardless of the weather!
Over the past few weeks, we have reached record levels of lettings as people look to move-in, well in advance of the autumn.
Our advice to anyone looking to sell, or to let, their property is to take action now and take advantage of the current 'hot' property market.
For more details contact Wilkinson Grant on 01392 427500 or www.wilkinsongrant.co.uk