Rightmove.co.uk and various estate agents have reported no growth in house prices over the last few months. This may demonstrate a cooling market. We may also expect a more steady pace in 2018 with flat or gently rising house prices.
House price growth and indeed falls can be difficult to predict. In the areas that we cover we have seen strong demand throughout 2017 and prices (generally) rising.
However, as we know and have seen many times over our 160 year history, house prices do not rise forever. We see flat lining, such as between 2010 & 2012 and also periods where they have fallen or even crashed such as in 2008.
If house prices stop rising the first thing that is noticeable is that the stock of available properties starts to rise as properties become more difficult to sell. It is at that point that a seller and their estate agent must focus on the price point of their property to make sure it is well placed against the growing competition. It is always tempting to think one’s own house is better than the one for sale down the road, however, if neither are sold it is important to look at things from a buyers point of view. Think about setting a realistic asking price that keeps you in line with other properties like yours. This should guarantee you interest and a swifter sale.
If you are looking at selling your house either now or indeed in early 2018 give us a call. We will be happy to visit you to give you an up to date appraisal and marketing advice.