Is balance returning to the market?

They say all good things come to an end. But a much needed rest and reprieve doesn’t mean the end. As we all know the property market has been experiencing unexpected and significantly higher levels of interest since the first Lockdown was relaxed in 2020. Prices have rocketed and the clamour for property has rarely ever been so desperate.

As Covid fades into the past and the consequences of the economic fallout and war begin to surface we find a rise in the cost of living having a significant effect on many people’s lifestyles and decisions. With inflation now predicted to peak at 11% come the next energy price cap rise in October, and the continual increase in fuel costs and basic necessities, it is hardly surprising that the furore within the market looks to be settling down.

That said however, it doesn’t mean that we are on the brink of disaster. There are still more buyers than sellers, stock levels are still low and new properties are still getting great response levels on initial marketing. Valuation diaries are filling up and people seem to be returning to the sales market.

It seems like we are returning to a traditional sales market. What has been weighted towards the buyer looks to be levelling out by the end of the year. Realistic pricing will see values maintain but the sharp rise in property prices will most likely plateau.

In summary the market is expected to remain healthy, mortgages will still be available and property sales will continue. Poole Townsend are ready to help guide you through whatever the coming months bring. Come in and have chat with our sales advisors or mortgage experts.

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