New Year, New Hopes and Dreams!

May we take this opportunity to wish you a very happy 2023!

Let’s start with some good news within the property industry, with a reminder that people are still needing to move, for various reasons, not least due to the long-lasting impacts of the pandemic which are still influencing the desire for people to move home.  There are many factors that will support home moves in 2023, creating demand for homes listed for sale this year.

Banks are sure to be making mortgages readily available, and will be presenting options to ensure customers can afford the jump in mortgage rates. It is also likely that there will be a 5-year fixed rate mortgage option which will greatly appeal to many first-time buyers. Financial markets have shown more stability recently, which is another standout reason for the increase in the number of mortgage deals.

Boxing Day is traditionally when most people begin their house search or when they are more likely to put their homes on the market. A report on the popular property portal Rightmove, saw a record number of people choosing to put their houses up for sale, in fact 46% more than on Boxing Day the previous year (2021) These people will most probably be experiencing an influx of viewings, as people settle back into their routines for the new year.

As far as house prices go, it’s hard to pinpoint whether there will be a rise or fall, because this typically tends to be location dependent, with varying peaks and troughs nationwide.  The expert advice would be to find a well-established, local estate agency like Pattinsons who knows the market inside out, and can guide you through the sale/rental process with ease. With 27 branches spanning across the North East, and operating for over 45 years, one of our expert agents are likely to have recently sold properties like yours in your area, and therefore will have an up to date list of potential buyers on their database.  

Want to know how much your house is worth?  We offer FREE Valuation upon request.