Whilst the sale of new build property and higher priced homes is starting to stutter, rising interest rates don’t appear to be having the same effect at the First Time Buyer end of the market, with property still being snapped up as soon as it comes to market.
This is great news for landlords looking to sell, but it’s not good for tenants in a rental market already being strangled by a lack of supply.
Whilst selling prices rises appear to have calmed down, the shortage of stock is still very evident, and that is driving competition and keeping prices strong.
As has been the trend for the past few years, we’re finding that the best presented properties are getting the highest level of interest and achieving the highest prices, but vendors should be careful with how far they go if they’re planning to renovate to sell…
If you’re thinking of coming to market to sell, drop us a line for free consultation, and we’ll do our best to help you get moving.