Interest rates, rising costs, uncertainty about the future – if they’re barriers to moving house it’s worth a conversation with an estate agent because, if there’s one thing that’s guaranteed, it’s that they’ve seen it all before.
According to Adam Faulkner, Managing Director at Northamptonshire property specialist Jackson Grundy, the local market is performing just as well as it was this time last year and it’s as good a time as any to venture into the market.
Key to making that a success is gaining an understanding of the market, being prepared to meet changing expectations, and getting the perspective of an experienced estate agent about timing, pricing and financial commitments.
This month, Jackson Grundy is opening its second Mortgage Centre, widening the opportunities for clients to seek sound advice that will give them confidence about the future. “The truth is that there is a never a good or bad time to move house, the property market has been through periods of boom and bust for years and we just have to respond to market conditions,” said Adam.
“Fluctuating interest rates are playing more of a part in decisions than they have for some time, and the cost of living is having an effect on which houses are selling quickly and which aren’t, but with the right approach and the right advice, anything is possible.”
What Jackson Grundy has found is that buyers, particularly first-time buyers, are increasingly looking for move-ready properties. With costs rising and budgets getting tighter, many buyers don’t feel they have the scope to buy a house that needs further investment in renovations and upgrade to kitchens or bathrooms.
“A house that is ready to move into will sell quicker,” said Adam, “as will a house that is at the right price. We have to be realistic and not aim too high in the hope that we get a good offer. If the price isn’t realistic, it gets little interest, that means it stays on the market for a while and can get a bit stale on the search websites, which we obviously don’t want.”
Jackson Grundy’s new Mortgage Centre in Daventry emphasises the strength of a good mortgage adviser at a time when people are looking at what might happen to interest rates in the future, and whether it’s best to go for fixed rates and terms, or consider tracker mortgages, which follow the movements of interest rates.
“Buying and selling property is always confidence led, and if people know they can get a deal that suits them now and that they will be fine if interest rates go up a little, then they will still take the step of moving,” said Adam.
“Whatever the outside factors are, the fact is that the market in Northamptonshire is performing at a similar level to this time last year. It remains a good place to live, people are attracted from areas like Milton Keynes because you get more for your money, and from London because it’s a decent commute and a lot cheaper to live.
“Property is selling well, and part of that is because estate agents are being strategic and helping clients find the right price and the right buyer.”
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