The UK property market is enjoying a boom right now, and vendors are enjoying a fantastic seller’s market ensuring great prices and available buyers. Yet, with this market comes certain concerns that we’d love to address for those thinking of making the next step in their home sale.
We recently mentioned how the 2021 spring property market has been the strongest in a decade, and summer’s looking to achieve the same with strong house prices, plenty of demand, and new government schemes to give an added boost.
With every change in the market comes pros and cons, comfort, and concerns. We’ve compiled our seller’s most common concerns in today’s market and want to lay out exactly what we’re doing to reassure those looking to sell their home that we have solutions ready and available.
Below we outline the BIGGEST issues facing potential home sellers right now…
To buy or sell first?
The ‘chicken or the egg’ debate of estate agency. Should you sell first or buy first in the current market? We know many people are concerned that the usual advice of ‘selling before buying’ with the lack of stock on the market might mean your buyers are waiting around for you to find the perfect home, and you may feel pressured into making an offer on a home which isn’t your dream just to get things moving.
Each situation is different, and we of course would want to hear your exact circumstances before offering advice BUT selling first does put you in a strong position of bargaining when you do find your dream home, and this is a huge advantage when other buyers are vying for the home you’ve offered on.
A seller’s market
This touches on what we talked about above. While a seller’s market puts you in a great position to get your home sold for a great price and quickly, you still need somewhere new to move to, and in a seller’s market, stock is low.
Remember, you always have the option to move into temporary or rented accommodation if you don’t find the home you’re looking for, but we bet with our sophisticated matching AI systems, and cross-office communication for homes across the area which have yet to launch onto the market, we can find you your perfect new home in no time!
We also recently brought the new property technology Boomin into the picture, letting buyers show their interest in homes not yet for sale and opening up a world of possibility for buyers up and down the country.
Stamp duty holiday timing
There has been a big buzz about the stamp duty holiday, which significantly helped cause house prices to rise across the board, as people could afford more cash down without the added tax costs. This tax saving linked together with a real appetite from buyers to purchase property with outside space and a realistic Work from Home (WFH) space has focussed thousands of buyers on completing on or before the 30th of June.
We will also keep an eye on how the market is shifting, especially post the stamp duty holiday deadline, and let you know when we find some great homes to buy which are in the price range you’re looking for. We also have options available to ensure you are more proceedable when the time is right, moving fast to get the most benefits.
Footfall through homes
Even with lockdown coming to an end, and the world slowly opening up again, no one wants a lot of footfall through their home. Putting aside any safety concerns, having to clean and stage the house, get the kids ready and the dog out, etc., can be a massive hassle if you have a viewing every day. This is why we decided to introduce virtual tours into our home marketing, allowing prospective buyers to take a look around without ever stepping foot in your home.
This has reduced inconvenient viewings and time wasters, and also increased safety for many of our sellers over the past year, so we’re committed to keep it going in future.