The spring selling season is always an exciting time for us, and for buyers and sellers alike. As the weather warms up and the days get longer, more people begin their search for a new home. Traditionally we see a clear increase in the asking prices of homes coming on to the market during January to February after a quieter Christmas period. This year however, the smallest increase ever in asking prices for the January to February period has been recorded by the Rightmove House Price Index with the average UK house price up by just £14 (+0.0%). While it is only a small increase, the fact that there is a nationwide increase recorded shows that the year has got off to a better start than many ‘experts’ predicted – see, and we’ve said all along not to worry!
If you’re thinking of moving, renting or buying, and want some home inspiration take some time to browse our properties available in Virginia Water and the surrounding areas. If you have any questions, you can also visit our award-winning website or call us on 01344 843000 and email us.
Here our blog explores the positives to take from February’s House Prince Index by Rightmove.
An encouraging sign for the housing market
While it is only a small increase recorded across the UK for January to February, we see it as an encouraging sign of good things to come and of a more settled market that brings with it more choice for buyers. While there is still a shortage of available homes for sale across the nation, the number of available homes is recorded to have increased by 48% from the record low levels of last year. If you are looking to buy in Virginia Water contact us today, we have a pool of homes, on and off market, just waiting to be viewed.
A more settled market has benefits for both buyers and sellers
In a slower more settled market, buyers have more time and the breathing space to find the right home for them. While this is a happier environment for buyers it is also good news if your home is new to the market, as it means you can take the time to set a realistic asking price and find the right buyer with less likelihood of dropout within chains. We are property experts in the Virginia Water and Wentworth area, if you are thinking of selling your home get in touch today for a valuation and get your next move on the way, in very little time you can be selling your home and completing on your next dream home.
More buyers are ready to make a move
Another outtake from the report is that many buyers are ready to get on with their move after being cautious towards the end of 2022, and we’ve seen a significant increase in the number of potential buyers making enquiries, which is recorded by Rightmove to be the same across most UK estate agents in the last couple of weeks of February. Average mortgage rates have also come down, with changes to lending criteria, making it once again more affordable for buyers to take out a mortgage and purchase a home, and in a better position to compete with cash buyers. With more confidence and more choice, buyers that took caution towards the end of last year are now eager to make their move in what feels like a more promising market.
First-time buyers return to the market
With average mortgage rates continuing to edge down and more packages coming back onto the market, more and more first-time buyers will be able to get mortgages and afford to buy over the coming months, benefiting sellers that have outgrown their first homes by securing a buyer so that they can continue to climb the ladder and keep chains moving.
Exciting possibilities for 2023
We’re excited about the possibilities that this year’s housing market holds. With Virginia Water being a beautiful and affluent area many of our buyers are cash buyers, established mortgage holders, and with property proving to be holding its value we can only recommend making your next investment now.
Why March is a great time to buy and sell
March is a fantastic time to sell your home due to the high number of buyers once again enquiring about homes for sale, with the brighter days of spring making it an ideal time to showcase your property. Many potential buyers are eager to move into a new home before the start of summer, with outdoor spaces and gardens being a top priority. With traditionally the higher demand for properties in March anyway and with this year looking more and more promising, you have a better chance now of selling your home. Now is the time to get in touch with our expert team if you’re looking to sell or buy a home in Virginia Water, Wentworth, or the surroundings areas.
GET IN TOUCH
If you are thinking of moving in or out of the area, make sure you take a look at our amazing catalogue of properties for sale in Virginia Water and the surrounding areas. If you’d like to speak to someone about properties to let in Virginia Water, a member of our expert team would be happy to help. You can call us on 01344 843000 or email us. You can also follow us on Facebook, Twitter, Instagram, and LinkedIn.
