Some of the most common questions I am currently being asked as a property finder by prospective buyers and sellers are; ‘is there much property for sale in Cambridge’ and ‘should I sell/buy now or wait?’, and my answer to most of them is; ‘what are you waiting for?’.
It starts off with a casual conversation about the property market and their property dreams and aspirations. Where they would move to, what kind of house their next house would be and how much happier they could be.
When asked why they haven’t put their property on the market yet and what is possibly stopping them, the answer is often the same; ‘there is a lack of stock on the market’, and ‘what happens if I start marketing my property and I can’t find anything to buy?’.
A good time to sell?
I appreciate that the last few years of political and economic unrest haven’t helped consumer confidence, and particularly the property market has had its share of ups and downs, but that’s nothing new.
Markets will always rise and fall, and yes, it would be great if you could sell at a peak and buy at a low point, but this isn’t always going to be the case.
Although there are areas in the UK where the property market has had some serious set-backs, there are many more, like Cambridge, that have experienced extreme growth which has been beneficial for both buyer and seller alike.
So, back to the question; ‘what are you waiting for?’. Without sounding like the grim reaper – Brexit isn’t going to just ‘go away’, and whatever side you are on, there will be many more months and possibly even years of negotiation taking place. National and global economic and political unrest is part of day to day life and always will be. Lack of stock is no excuse for just sitting back and waiting to sell your property, if everyone did, the market would come to a halt.
As a seller, lack of stock can be used to your advantage. Your property will be one of the few on offer on the market which could even result in multiple offers. More properties coming to the market will result in more opportunities for a buyer and although initially there may be more competition, if you sell well, you could become that buyer who can afford to buy their dream home at the other end. As a buying agent I am frequently offered pre and off market properties, even in this market.
There are deals to be done and opportunities to be had for both buyers and sellers. My advice would be to market your property now, so that you are in a proceedable position to buy your next perfect home – ‘what are you waiting for?’