Should we be concerned by a cooling in the property market?

NEWS headlines talk about a slow-down in the property market, but does this truly reflect the situation here in the Stroud area and is there a need, whether you’re buying or selling, to be concerned?

First things first, the media needs to catch the readers’ attention.

An honest, slightly dry, headline won't achieve that, but words and phrases such as ‘dramatic slowdown’, ‘first quarterly fall’ and ‘flat summer in the housing market’ all will.

The reality is in fact far less dramatic.

Whilst there are some adjustments being made, the percentages aren’t big enough to say the market has cooled off and there remain plenty of people still prepared to pay the full asking price if the property is right for them.

The reality here at Andrews in Stroud is that we’re incredibly busy. We are, however, finding that now more so than ever properties need to be accurately priced and when they are, they’ll sell!

Some agents keen to secure a listing will suggest a high asking price but this is not a wise path to follow whilst the market is so price sensitive.

By accurately pricing the properties that we market, we’re securing multiple viewings - in one case recently, we had 27 viewings on a property in a single day!

We’re also increasingly offering evening viewings as well, simply to keep up with demand.

Of course, it would be foolish to deny that there are some factors currently having an impact on the property market.

With just days to go until the next General Election and with pollsters chopping and changing their views from one day to the next, until we wake up on June 9 we simply cannot be certain who will have the keys to No 10 and what impact that will have on the short and long-term prospects for the housing market.

However, greater than political uncertainty is the fact that supply continues to be an issue.

Simply there isn’t enough stock coming on to the market to meet demand and create genuine movement so in fact, if you’ve pondered putting your house on the market, doing so now could well be a good thing!

Reports of a slow-down in retail growth may also put some people off a move, but it’s worth remembering that this will also serve to keep interest rates low and that’s certainly good news in terms of mortgage affordability – perhaps another reason why you shouldn’t put off a house move!

So, instead of being swayed by sensationalist headlines, why not engage with an agent who is not only an expert on the local market, but one who will provide honesty and clarity when valuing your property.

The team at Andrews on King Street in Stroud will be happy to advise you on the likely value of your home, the local market conditions and how you can best present it to achieve a sale at the price you want.

You can also visit our website for a wide range of advice and guidance on the house selling process: andrewsonline.co.uk