Summer slowdown puts property buyers in driving seat
The typical summer slowdown in the property market means this is often the best time of year for home bargain hunters to strike.
And new data from online listings site Rightmove suggests sellers think so too, as asking prices have fallen slightly year-on-year.
The latest figures from Rightmove’s monthly survey said asking prices have fallen across the UK by 0.2 percent.
Primed to take advantage
Fewer new properties have come on to the market to sell, but because of the slowdown, estate agents have a glut of homes already on their books, said Rightmove.
That generally means those keen to secure a sale are willing to negotiate on price, which puts buyers who already have their mortgage or finance in place are primed to take full advantage and secure their new home.
Miles Shipside, Rightmove director, said:
“The housing market fundamentals remain largely sound in many parts of the country, but the current political climate means that the crucial ingredient of confidence has been impaired, and that is causing some potential buyers and sellers to hesitate.”
Families keen on move
Rightmove says it’s bigger family homes, those with three or more bedrooms, that are taking most time to sell. And with many families keen to sort out a move during the summer months to ensure their child is in their school of choice, these few weeks become a crucial time.
That’s why it’s important to instruct a conveyancing solicitor early in the purchase process so buyers can move quickly to seal the deal.
At Homeward Legal, our team know precisely what’s required to find buyers and sellers the right property lawyer for their circumstances. We’re open seven days and offer the most competitive conveyancing services around, with no hidden extras and a guarantee that if, for any reason, your purchase or sale fails to complete, you won’t pay a penny.
Call now on 0800 038 6699 or get an instant, no-obligation quote for buying or selling conveyancing services here.
Kindly shared by Homeward Legal