Acting Now Can Gain An Advantage In Housing Market

Original source: Agent Media

Acting Now Can Gain An Advantage In Housing Market

Even though there is still good demand for homes in the housing market, it is likely that this demand has dropped off compared to what it was previously. However, it also seems that some prospective homeowners are holding back on selling their property.

Given the uncertainty in the economy, this isn’t a surprise, and it is likely that many people will hold off or postpone decisions for now. This might cause issues at a later date, and at ML Estates, we think there is a lot to be said for being active now, while many hold off from making a significant move.

Many homeowners postponing sales plans

A recent study in the UK property market sector found 79% of homeowners saying the current cost-of-living crisis has changed their housing market plans. Only 24% of respondents said they intend to list their home for sale in 2023 while buying another while 55% of respondents said they will not list their home for sale in the next couple of months, holding off until spring before entering the market.

Tom Greenacre is a managing director in the property sector, and he said: “It’s understandable that people are nervous about the cost of selling their home and moving house given the cost-of-living crisis – but they don’t have to be. Buying a new home in a cheaper area or downsizing where children may have left home, for example, might leave you better off. And listing now, or very early in the New Year, could mean that you beat the crowd.”

Get ahead by moving now or soon

If you are sure you are going to enter the housing market at some point in 2023, there is a lot to be said for moving now. There are always reasons to delay a move, but there are significant reasons why people need to move, even when the market isn’t at its most favourable. If you are looking to be active in the market, we can help.

Of course, when property moves are placed on hold, demand for rental property rises. This is important news for landlords, and if you are looking to connect with tenants, we are ideally placed to assist you with this.

We know the local area well, and we know who is looking for rental property. Whether you are keen to invest in rental market property in West Hampstead, or you already own West Hampstead property you wish to let, we can assist you.

Whatever move you wish to make or undertake in 2023, we are here for you.

Contact ML Estates to better manage your rental property

At ML Estates, we are keen to help you manage your property, and we offer a wide range of services. We can arrange a property valuation for you, and we can help you connect with tenants. If you’re a North West London landlord looking to let property, contact us today for more information about our property management services. Call ML Estates on 020 7328 4444 to discuss your requirements.