Hyperbole is always a good headline, but only helpful for people to truly understand what’s happening.
People are busy doing things that don’t involve thinking about moving home right now, Christmas planning, cold weather…. etc.
The combination of a seriously heated market for the last couple of years, especially towards the top end in the area then Christmas, the cold and mortgage rate rises has resulted in a definite cooling off.
But what does that mean, are we doomed? No. Are properties now worth significantly less than at the beginning of the year? No.
The lucky thing about living in Southbourne and the surrounding areas is that it’s lovely to live here and many from around the country wish to move here. However only a few people will drive 150 miles to see a home on an unplanned weekend like they were before, the desperation to move has relaxed and the power is shifting more towards buyers than before.
Looking beyond the next two weeks, we’ll see more stock coming to market, there have been insufficient houses for buyers to purchase over the last few years, which is still the same. As mortgage companies become more competitive, we’ll hopefully see rates decrease too.
We had a super positive November and although December has become very slow for buyer activity, it won’t be like this forever.
If you’re planning a move soon, it’s always worth chatting with an expert about how best to make that happen.
Simon
