Published: 29/03/2021 By Jon Graham
While a rise in asking prices is positive news for homeowners who are looking to sell their home, it might also pose problems, including:- If house prices rise, will buyers still be present in the market?
- If house prices rise, and I need to buy a house after I sell, will I end up paying more?
We help people move home
At Dwell, we are pleased to say we have assisted many homeowners to connect with buyers, even in challenging conditions. We know the local market well in Leeds, and we stay in touch with what is happening nationally.
If you want to make the right decision in the housing market, please get in touch, and we will be more than happy to advise you.
According to recent data provided by Home.co.uk, house prices have risen, and they look set to increase further. The demand for homes is currently outstripping the supply of homes. This outcome creates a set of circumstances where many homeowners will wonder if it is worth moving sooner rather than later.
The figures indicate house prices and rents have risen by 1.4% on the February 2021 figures. The annualised growth figures have increased by 4.8%. While many factors influence demand, and the price buyers are willing to pay, a shortage of homes supplied to the market will always affect what is happening.
Areas like Leeds are in great demand
Outside of London, there is a significant shortage of homes supplied to the market. In a reversal of what has been the case for so long, the London market is trailing. Increased worker flexibility, greater demand for space, and a desire to live in quieter or more community settings have seen direction move away from the capital.
The London market will survive, and before too long, demand for homes in the capital will outrival all other places again. However, many households are looking at different areas, and locations like Leeds are proving popular.
If you are considering moving, we are here to help, and there are steps you should take now:
- Review your finances and feel confident with what you can afford to pay
- Decide what is important to you in a new home, and what you want from property
- Realise that as asking prices have risen, you might receive more from selling your home, but you’ll pay more for your next property
- Start the decluttering process – Spring is always a good time to freshen your home, but if you plan to sell soon, a tidy and spacious home appeals more
- Speak with a local housing market expert