Have you been putting-off your home move until things settle down? Well, that’s certainly been the case for many Exeter and East Devon would-be home-movers over the last few months, as the current shortage of available houses to buy has stalled putting their moving plan into action. No good selling if you can’t find anywhere to buy, right? Well, the good news is that the New Year has seen many local home owners starting to get their ducks in a row for a 2022 move.
So, to help you get a head-start, here’s how Roger Wilkinson of leading independent agency Wilkinson Grant & Co says the local property market is shaping up so far:
Signs of a closer to normal (but still a seller’s) market
The frenzied market that we’ve experienced in the last eighteen months has seen many areas of the UK become honey pots as the pandemic has pushed homes higher-up people’s list of priorities. Work and lifestyle changes has seen a massive upsurge in people looking to moving to the South West, competing with local home-movers and driving-up prices in some addresses by as much as 20%. That demand, coinciding with massive investment and redevelopment which has seen Exeter head the way as one of the country’s fastest growing city economies, has helped firmly establish the city as one of the best places to live in the UK. In 2022, we expect to see a closer to normal housing market — albeit still a busy one. Whilst the supply of available properties for sale is far less than we have experienced for a considerable period of time, property valuation requests at Wilkinson Grant & Co from local home-owners looking to move have increased significantly over the last few months – A very good indicator that there will soon be more homes coming to market.
Stock shortage and new mood of buyer realism
If you do decide to sell your home this new year, your chances of a finding a buyer are very good, as we anticipate continued high levels of buyer demand and not enough homes available to choose from. But a new mood of buyer realism, influenced by creeping interest rates and escalating fuel costs will result in a slowdown in house price growth. So, unless you are exiting the market, it’s more important than ever to work with an agent that will not only find you a good buyer and negotiate the best price – but (perhaps, even more importantly) one that will also help you find and secure your next home.
Despite Covid uncertainty, interest rate rises and creeping cost of living, the supply of newly-built homes here in Exeter and East Devon will provide healthy levels of market activity and we expect house prices in Exeter and East Devon to rise by another 5% in 2022. However, if you are serious about moving, it’s really important to work with an experienced agent that you can trust to help work with you and look after your interests every step of the way throughout the selling and buying process.
Put yourself on pole position
If you’ve already started the search for your next home, you’ll know how few properties there are currently for sale, which means you’ll be facing stiff competition from other buyers. To be in pole-position in the race for the best properties, you need to have greater buying power than the rest of the field.
So, if you’re a seller looking to buy again, the best way to get yourself on the front of the grid to secure your next home, is to have a buyer for your property first. Proving you have a good buyer in place and have access to funds (including a mortgage agreement in principle, if required) will not only get you higher-up the buyer pecking-order but also help speed-up the whole moving process.
Help to find and secure your next home
As we’ve already highlighted, whilst there is more properties coming soon, there’s no shortage of buyers to snap them up. So, how do you find out about them first? Waiting for the right property to pop-up on Rightmove may be too hit-and-miss and not everyone wants to revert to door-knocking your preferred addresses. This is where our FREE (to our vendor clients) SEARCH AND ACQUISITION SERVICE comes in. Tell us what you are looking for, where you want to live, must haves and preferences and how much you would consider spending and we will use our experience, methods and contacts to help you find and secure your next home – often before ever it hits the open market.
But don’t feel pressured – choose the right agent
There are lots of reasons why people move home but if you choose the right agent to work with, you shouldn’t feel pressured or the experience feel stressful.
At Wilkinson Grant & Co we put you, the client, front and centre of everything we do. Since we started serving the local community in 1995, our experienced team have helped thousands of local home-movers – whatever the market conditions. Whether it be full marketing or a more discreet property sale, for each client we devise a personal plan to achieve the best outcome to meet their own individual needs. We will guide you through the selling and buying process every step of the way, helping ensure the experience is as smooth and trouble-free as possible.
If you are looking to move in 2022, please get in touch now. We would, be delighted to pay you a visit and provide advice and recommendations on how to help you achieve the best price, with the minimum of fuss and help you find and secure your next home – wherever that might be in the UK.