With winter fast approaching, some clouds have already set in across the country. So, just how resilient is our property market, and is now a good time to sell, buy or invest?

If we reflect on the last 20 years, two evident facts become apparent: the mirrored connection between the London and national markets; and the regular moves back and forth between buyer’s and seller’s markets.

The pandemic proved to be one of the most unprecedented influences in recent times. Assisted by stamp duty relief, favourable mortgage offerings, and a change in disposable income, all of which pushed forward by the sudden need for personal space and the work from home shift. This combined to form a powerful sellers’ market with demand and house prices reaching record levels.

But where are we at now? There is much reporting about current economic turmoil, it’s important to filter and acknowledge the black and white. For example, average house prices across the UK rose by 0.9% and new listings by 4% in the last month. Compared to this time in 2019, buyer demand remains 20% higher, the number of price reductions has stayed equal, and the number of failed sales has only increased by 0.1%. On the rental front, values now stand at their highest since records began and demand is heavily outstripping stock.

From this perspective, the property market is holding steady and there are no signs of a dramatic downfall, simply a gradual adjustment to an altering environment. Clients of mine recently proved just how important and productive homework is. By producing a spreadsheet calculating affordability relating to their sale value, they were able to define their search and act quickly when the right property came available. Within a week of launching, they received an asking price offer, and within another week had secured their onward purchase. All of this at the same time mortgage rates increased. It goes without saying they had a brilliant trio of professionals dedicated to their cause from day one: estate agent, mortgage advisor and solicitor.

Whatever your plan, ensure to get all your sheep in a row. With our recently refreshed website up and running, online valuations, appraisal bookings and further information about myself are there to view at your convenience. Simply visit www.EWEMOVE.com/Wymondham