Wondering whether you should take the leap and sell your property? Outlet experts reckon now is the time and have some insider’s advice to share.
The borderline boom
Firstly, property prices are doing rather well right now. London and the South East are seeing the steepest rise in growth but other parts of the country are catching up. Nationwide and Halifax banks have seen a spurt of growth in annual inflation in recent months. January marked the 13th month of consecutive property value rises – a sign that we are regaining confidence in the market after the financial crisis. Also, changes in taxation for overseas property owners, who will be liable to pay capital gains on their property sales from 2015, may push a significant amount of stock on the market towards the end of this year, this could ultimately could push prices downwards.
We estate agents love to use this phrase – but at the moment, it’s true. The amount of people looking for a property to buy, especially in London, is growing as ever. Vendors are in a great position to negotiate the best conditions ensuring a quick exchange and completion.
Help to Buy
The government’s new scheme to help first time buyers has been a success so far. The first figures released late in 2013 showed that 2000 people had made offers on homes and almost £400 million had been loaned to allow buyers to get on the ladder. This year the government’s generosity looks set to continue so sell now and you could be inundated. Take note, though, this may change in 2015 if the market is over-run and this stimulus measure may be removed.
Interest rates are hotting up
Mortgage rates are nice and low, but not for long. If you are borrowing money to buy your next property, you might want to make the move before the cost starts creeping up again.
New build bonanza
According to a report by Savills, there could be as much as a 55 per cent increase in new build homes on the market in the next five years. That will mean a major hike in the amount of properties you have to compete with.
What are you waiting for?
Whether you want to upsize, to get some outside space or just move areas, why wait? You’ve got nothing to lose by having a valuation done on your property.
Why choose Outlet?
If you are looking for impartial advice, experience in the London property market, state of the art marketing, and an agent who has your best interests at heart, you will be in good hands. Take a look at some reasons for selling through us.
To discuss selling your home or to arrange a free valuation, call us on 020 3603 3818. We also offer a free home valuation service.