The 1066 Country property market feels like it might be approaching a turning point, and the Autumn Budget could change things very quickly.
In this edition of 1066 Property Insider, we take a look at where things stand today, and how autumn might shift the balance for buyers and sellers alike.
Right now: a rare window for buyers
Buyers across our region are currently in an unusually strong position. There is plenty of choice on the market, prices are more realistic than they have been in a while, and there is genuine room to negotiate.
The question is how long that window stays open.
What could change if Stamp Duty is cut
If the Chancellor announces a Stamp Duty cut in the Autumn Budget, the effect could be dramatic. Thousands of buyers who have been sitting on the sidelines waiting for the right moment could suddenly decide the moment has arrived.
More buyers chasing the same properties tends to have one predictable consequence! Prices climb, and they can climb quickly.
The homes offering the best value are the first to disappear. Choice shrinks. Competition rises. Today’s negotiating power can vanish in a matter of weeks.
For anyone thinking of buying, there is a compelling argument for acting before everyone else does.
For sellers, potentially the best window in a while
For sellers, autumn could bring the strongest opportunity we’ve seen for some time. Motivated buyers moving quickly, competing more actively, and taking longer chains in their stride.
The one thing that hasn’t changed, and won’t change, is how important it is to price your home correctly from day one. Even in a livelier market, homes that come out too high still sit, and the ones that come out at the right number tend to fly.
The market has been subdued, but markets don’t stay still forever. Autumn could very well be the moment 1066 Country starts moving again.
That’s the latest from 1066 Property Insider. Keeping you ahead of the local property market. Hit play below to watch the full video, and get in touch with your local Rush Witt & Wilson office if you’d like to talk through what any of this might mean for you.
