Here’s why now is a great time to put your home on the market.
Houses view better in spring
With lighter evenings, there’s more time in the day to hold viewings of your property. It’ll also view better in brighter light and with a greener garden. This means that your home might sell quicker than it would in winter.
Demand is unseasonably high
The need for space, catalysed by the pandemic, remains a driving force in the property market. Demand is especially high for family homes with ample outside space, so price for these properties is being driven up by high demand.
This high demand means it’s likely that your home will sell quickly. There are an increasing number of properties on the market at the moment, so now is the time to list your property if you’re planning to move this year.
Prices are at an all-time high
Prices have reached an all-time high. Housing prices have been steadily rising in the years since the market crash of 2008, but demand during the pandemic – particularly during the stamp duty holiday – caused prices to rise even further. Currently, they’re at an all-time high, with the average property in the UK costing £260,230 in March (according to Nationwide).
With prices, inflation and interest rates rising, some are predicting a decline in the property market as soon as the end of the year.
Small, green cities like Salisbury are popular
Due to lifestyle changes induced by the pandemic, big city living has lost some of its appeal. Instead, people are moving to smaller, more-affordable cities with plenty of surrounding rural area. This is driving up house prices in Salisbury further, meaning you could get even more money for your home.
The cost-of-living crisis could cause the market to slow later in the year
The Bank of England has raised the base rate three times in the past six months. Some experts are predicting the base rate to reach seven per cent this year, so this would have a knock-on effect on mortgage rates. The cost-of-living crisis in general might deter people from purchasing new properties, so it’s best to capitalise on the high prices while they last.
If you’re looking to sell your home in Salisbury, contact the local property experts at Jordan & Mason.