A Fantastic Time to Buy
05 Oct 2017
By Lionel Stoll
Should I buy or rent? A question that many would be property purchasers and their families are probably asking themselves at the moment.
In nearly 30 years of being an Estate agent, it is impossible for me to remember a time when it was so good for a purchaser to buy their own home. Of course in the past, there have been markets where buyers can negotiate a great price, but with higher interest rates for mortgages.
However, at present a buyer has a fantastic choice of homes to find the one that suits, serious sellers not speculators and interest rates at low levels that will potentially never be lower again in many of our lifetimes.
Whilst “BREXIT” seems to be the buzz word at present and the catalyst to blame everything on, it has served to stabilise the property market and now allows for sensible negotiations.
Furthermore, for a current owner looking to upsize, the price gap between a flat to a larger flat or a house has again rarely, if ever, been more affordable with the combination of both competitive asking prices and fantastically affordable borrowing.
On the domestic front Fantastic recent unemployment data states that the UK unemployment rate declined to 4.3 percent in the three months to July of 2017 from 4.6 percent in the February to April period and below market expectations of 4.4 percent and being the lowest jobless rate since the three months to May of 1975 giving fantastic confidence and prospects going forward for us all.
So after many years of the market being one sided in the seller's favour, it now offers great opportunities for everyone whether you are a buyer or a seller!
We look forward to helping you with your move!