So, as 2023 marches on and we head into the Spring, it’s been an interesting time for property sales here in Newquay and in the UK generally. Following the tumultuous political and economic events at the end of 2022, we turned an uncertain corner into 2023 and prices have certainly come down quite considerably since the “mad moments” of 2022. Rising interest rates, the increased cost of living and high property values have all led to a reduction in sales volumes generally, but there are still plenty of buyers out there provided sellers embrace the revised pricing that a shift into a buyers’ market brings. Buyers are ignoring overpriced stock and now very much making offers on listed properties as opposed to meeting asking prices and over-bidding as was common in the second half of last Year. Despite the effective deletion of the ‘price spike’, values are still relatively strong when compared over a longer period and with demand still high in certain sectors of the market, it is more important than ever to market your home effectively and at the right price.

In these uncertain times and with the shifting sands of the current mortgage market, lengthy transactions have led to the highest fall through rate for sales we have seen in a long time, but stability seems to be returning. Solicitor work rates and workload are returning to normal and the majority of sellers soon catch up with the price changes in the market that are required to effectively sell your home. Finding a buyer is one thing, but sometimes these days it is the conveyancing element that can be the most frustrating. With increased conveyancing legislation and a whole new world of questions and requirements that we have not seen in the industry before, it is vitally important to get the right people in your corner who can propose a resolution and move things along rather than simply ignore and delay, hoping the problem will go away. Get the right agent, get the right solicitor and don’t be afraid to pay a little more to get a lot more back!

We hope to see more local home movers putting their houses on the market in the very near future. Spring and Summer are always great times to sell your home, with the blue skies, longer days and gardens returning to life so if you are interested in selling, why not give us a call for a free no obligation valuation from one of our experienced agents who will put together a strategy to ensure that you get the very best out of your proposed move.

As always, if you have any queries, please feel free to pick up the phone and talk to us or pop into our offices for a coffee. We are always pleased to help and our advice costs nothing.

Bradley Start
Partner
bradley@starts.co.uk
(07768) 974777