Traditionally the spring has been the time of year that the housing market has picked up. This follows on from traditional Christmas slowdown that inevitably starts around mid November. We usually see activity pick up through January but when we hit February half term things really start to roll forward.
This is the case this year. Across our group viewing levels have really increased over the past few weeks and sales across the our offices in the first half of February are very much around the level we saw in the pre pandemic years.
What does this mean for the housing market in general? After some very strong years in 2020, 2021 and 2022 with the number of sales and house price growth, it seems obvious that this year may be different. A less frantic housing market can be a better one to sell and buy in as although it can be a slightly longer process selling there are generally more properties to choose from when you find a buyer and can proceed to an offer.
If you are thinking of selling give us a call to discuss your options.
Lucy Frazer has been promoted from her position as housing minister to Secretary of State of Culture, Media and Sport.
Only in this position three months this leaves a vacancy and yet another new housing minister to be appointed!
Watch this space for updates.
A question that we as estate agents are asked almost daily.
2023 has started steadily. The number of homes coming to the market is consistent with what we expect. House sales are below levels we saw in the first 25 days or 2021 & 2022, however, viewing levels are steadily increasing and a good number of deals have been agreed so far.
There are pockets of very high demand. Terraced houses in the Gorleston area are still receiving high and good viewing levels and countryside properties around our Stalham office are also proving popular.
There can be no doubt that as we move through 2023 activity will increase and we are here to get you moved!
Purchasing a home in England & Wales can be a lengthy process. However, there are things that you can do to make sure the transaction runs smoothly and without unnecessary delays.
Firstly, choose a solicitor who you have been happy with before or has been recommended to you. Ideally local to you which will help if you need to attend their offices at short notice to sign papers etc. Don’t be tempted by solicitors or conveyancers who offer cheap headline costs without looking at the overall fees as some will add additional charges through the process.
If you are buying with a mortgage apply for this as soon as possible. Even for straight forward applications the mortgage process can take three or four weeks to go to formal mortgage offer.
Get paperwork back to your solicitor promptly with any search fees etc they request. Local authority searches have been known to take up to eight weeks in some areas and if you are buying with a mortgage, you can’t exchange contracts without one!
Finally, be reasonable and flexible on completion dates wherever possible and communicate any dates you know you can’t do early in the transaction. This will help avoid stressful and last minute discussions with regards to agreeing that all important move date.