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If ever we needed a crash course on how world events affect our daily lives, the past few months have provided us with a masterclass.
From the Russian invasion of Ukraine and its economic aftermath to our monarch and prime minister changing in a few weeks, there has been national bewilderment.
Of course, our press has done a great job in alerting us to all the dreadful things that could make things even worse, and this fanning of the flames of fear has sent shockwaves through all sorts of markets, including property.
But there are property market drivers that neither the press or the Russian president can affect because they have no control over such matters. These are the A to D of the property market.
A is for ambition – the personal ambition to live somewhere better, bigger, smaller, prettier, more convenient, more rural or urban.
B is for birth – as our families grow, we need more space.
C is for consolidation – people getting together to cohabit or downsizing after children have left home.
D is for death, debt and divorce – those three drivers on their own stimulate a high proportion of movement in the market.
Back in the 1980s we learned that the people we could rely on in a tough property market were ourselves, our families and our friends. Also, our estate agents. The reference to estate agents is not a glib remark: right now, with interest rates rising, lenders panicking, and buyers and sellers rightly concerned, it is the steady hand of an experienced estate agent that will provide focused calm and wise counsel.
If you are wondering about the right time to buy or sell property, remember the A to D of the property market. Individually we are not driven by war or a fallen monarch, and we shouldn’t be persuaded by rising or falling house prices. Instead, we should be driven by what is best for us as individuals.
When is the best time to buy or sell a property? Within the constraints of affordability it should be when it is most suitable for us and our families.
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HJ Burt are delighted to be supporting the Saturday 6th August 1.30pm to 5pm at Mackley's Sports Feild, Small Dole.
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Ukraine Appeal - We are collecting again! Donations from the list below can be dropped in to either of our offices.
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Nick Churton of H.J. Burt’s associated Mayfair Office looks at the difference between someone who wants to buy a property and someone who does buy a property.
Even seasoned estate agents say that there has rarely been a property market like this. “Property prices rising at pre-banking crisis levels”, “Properties for sale - numbers lowest in decades”, scream the press in reaction to comments made by lenders, property websites and other interested parties.
Moving might not be complicated for buyers who don’t need a mortgage and have no upward chain, or for sellers with no downward chain. But for everyone else, these can be testing times.
The problem is getting chained up with nowhere to go - becoming stuck in a line of dependent deals, especially when the top of the chain can’t find a property to buy.
It’s a wonder anyone moves anywhere with the market so thin on stock, and when getting a deal through often takes between 16 and 20 weeks. Four to five months is a long time in a property transaction – a lot can happen. But the miracle is that even in this market people do move. How? Mostly it is down to the desire of buyers and sellers, coupled with the skill of their estate agent.
If buyers and sellers were to sit or work in an estate agent’s office for a week, they would begin to understand that the tricky bit isn’t so much finding a buyer but getting a chain of deals, sometimes with four or five links, across the line. Finding a willing buyer is one thing, finding an able one is a very different matter. Everyone gets to see the sold board go up. But few get to see the effort that went into getting it there.
So, when choosing an estate agent in this market don’t just go for the one who says they can get you a buyer – everyone says that: instead go for the one who can get you through to completion. There is a vital difference between the two.
Why sell or let with us?
Here are some of the reasons why you should choose us to sell or let your property:
- We are local, knowledgeable and honest
- We prefer to carry out accompanied viewings and open days where necessary
- We are results driven and aim to sell or let your property as quickly as possible
- Our aim is to achieve the best possible price/rent from the most suitable buyer/tenant
- Our applicant database is extensive and regularly updated
- We carry out regular and thorough sale progression checks once a sale has been agreed
- We carry out comprehensive tenant referencing
We believe in proactively supporting you throughout the sales or letting processes, to hopefully take as much of the potential stress out of the move as possible. We aim for continuous and effective communication throughout the process and including all parties involved in the transaction to ensure excellent results on your behalf.
Submit a valuation request opposite or call us on Steyning: 01903 879488 or Henfield: 01273 495392.
