A Message from Howard
How do we tackle the property market as we approach the end of lockdown and the start of summer?
Has the world gone completely mad? Indeed just lately the world of property seems as though it might have done. If the Press isn’t yelling about renovations at No 10, it’s screaming about panic buying and soaring prices. How much should we believe?
With No 10, one’s view depends on which side of the fence one is sitting. And it’s the same with property. There’s the buyer’s side of the fence and the seller’s side.
Sellers in many parts of the country, including Bristol, are having a good time of it at the moment. This is mainly due to a scarcity of property on the market, which is strengthening demand and driving up prices.
For buyers it is another picture. Competing for every property with many other keen and proceedable buyers is not a calm or comfortable position to be in. Urgency often causes hasty decisions, a little too much compromise and disappointment.
But the property market is fickle. The pandemic, Brexit, low interest rates, easier lending criteria, and the stamp duty holiday have primarily created this surge in demand. But what happens next is anyone’s guess.
It is impossible to say for sure. But what we do know is that the property market is cyclical and there is usually a readjustment in the market.
The first thing one should do is to remember the immortal words of Corporal Jones in Dad’s Army, “Don’t panic, Mr Mainwaring, don’t panic”. If you must move or are up for a bit of market rough and tumble then by all means join the fray. But if you want a more leisurely buying or selling experience, then perhaps you should hold off for a little while. The market heat will dissipate before too long, just as Covid seems to be doing.
How do you decide whether to act now or wait? Well, you can leave it all to chance, or you can get some proper advice. At Howard we don’t just sell property; we advise buyers and sellers wisely. We know more about the emotional, practical and financial side of moving than anyone else, because we have seen it and done it hundreds of times for thousands of people and innumerable reasons.
So if you are wondering what and when your next step should be in the property stakes, whether you are selling, buying a home, or buying to let, don’t panic; talk it over with one of the property experts at Howard.
