Unlike heat waves in years gone by, where the property market has virtually shut-down as the buyers focussed more on the beach and cold beers, the summer of 2013 is proving to be quite different and could form the platform for the busiest half year of property sales for a very long time.
Whilst some – perhaps less committed – buyers have undoubtedly swapped property viewing for swimsuits and barbeques, 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 undoubted confidence – (which continues to grow) in the property market.
Rightmove’s latest consumer confidence survey, which collates over 25,000 responses from home –movers, show that 62% expect property prices to be higher than a year from now – double the 31% 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% loan to add to their deposit for their next home.
The fine weather is also having a very positive impact on our Open House’s, with busy buyers taking advantage of the flexibility and freedom to view a property at short notice or booking-in well in advance knowing the flexibility and freedom to view a property at short notice or booking in 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 last few weeks, we have reached record levels of the 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 let their property is to take action and take advantage of the current “hot” property market.