05 Jun Sell House Fast Market Tips
Sell House Fast Market Tips
Are you looking for sell house fast market tips? In our latest blog, we will talk about the most effective way to sell your house fast with a detailed look at all of the possible ways of achieving a quick house sale.
Sell House Fast Market Tips Current Market
House prices fell 0.2 per cent between February and April marking the first quarterly fall since November 2012, the latest property index from Halifax bank.
For the first time since 2012 the national house price has slipped, is this a sign of more things to come?
So why has the average house price dropped? There are many possible reasons for this and we will look into them.
Many people say the reason the house prices and the sell house fast market have taken a tumble is Brexit. Since the UK chose to leave the EU in back in 2016 the housing market has been anything but settled. We have found that many buyers are reluctant to make their next move in case they buy wrong. For many buying/selling a home is a once in a lifetime thing so it can be wise to wait until the market is stable.
The Royal Institution of Chartered Surveyors said a monthly survey of its members showed sales had declined in April to the lowest level since Britain left the EU last year. The number of new instructions for houses going onto the market remained negative for the 14th month in a row, RICS said, with 15 per cent more respondents saying new instructions had dropped in April. The figures provide the latest evidence that the housing market is starting to slow, which has seen weaker price growth on all the main indicators in recent months. Earlier this week, Halifax, the lender, reported the first quarterly decline in house prices since 2012 in the three months leading to April 2017.
Brexit also hit the high-end market hard. With overseas buyers taking a step back from the high prices property of West London. It seems that the super rich are wanting to invest in a more stable market and a more balanced economy.
So when are the ‘Brexit Blues’ likely to settle? The simple answer is that we don’t know. With Theresa May calling for a new election on the on the 8th of June which is putting the UK into more uncertainty until that point. Although initial figures are looking like its going to be a landslide victory for Tories, it doesn’t help the markets. As we saw from Brexit, people will sit and wait until a decision has been made before they act. One thing we all hope it that on June the 9th the Sell House Fast market takes a turn for the better.
It seems that the referendum result appears to have contributed to a fall in the number of people wanting to move home. UK Housing transactions in the second half of 2016 were 9 percent down on the same time from the previous year, according to figures from HMRC. The listed estate agency group Countrywide says the vote “had an impact on confidence in the housing market”. So have we lost confidence, time will tell.
Lucian Cook, director of residential research at Savills, says: “The triggering of Article 50 has been pretty well telegraphed, so for the housing market, it’s more about how the subsequent negotiations go and what that does to buyer and seller sentiment.”
Are there any other factors that have contributed towards the decline in confidence in the housing market? Well, there has been a few other key changed in the market over the last twelve months that may have added to the decline in the sell house fast market. Another change the market has seen has been the government implementation of the second tier of stamp duty. So how does this affect you? Anyone who is looking to buy a second home will new be hit with an extra 3% stamp duty onto of the initial stamp duty. We have found that this has created a slump in the level of interest of people wanting to purchase a second home.
Alongside second tier stamp is the new Buy To Let tax laws. Implemented in April of this year you are no longer able to offset your mortgage as a cost. What does this mean? Well, it means that many landlords are making less money on their stock, some even making a loss. This is causing some landlords to dump (sell off) unwanted stock. The effect that this is having on the market is monumental. We are seeing thousands of unwanted stock coming on to the market. This is increasing competition, which in turn is driving house prices down.
These issues have been known for a while so what else could be causing the drop in values? Martin Ellis, an economist forHalifax says: ‘Housing demand appears to have been kerbed in recent months due to a deterioration in housing affordability driven by the sustained period of rapid house price growth during 2014-16.
‘Signs of a decline in the pace of job creation, and the beginnings of a squeeze on households’ finances as a result of increasing inflation may also be constraining the demand for homes.
‘A continued low mortgage rate environment, combined with an ongoing acute shortage of properties for sale, should nonetheless help continue to underpin house prices over the coming months.’
Recently a report was done that quizzed Britons’ confidence in the housing market. It found that sentiment on whether house prices will be higher or lower in a year’s time has improved slightly. Nearly six out of ten expect the average property price to rise in the next 12 months, compared to 14 percent who expect prices to fall. But will that confidence still be there after the 8th of June?
However, this compares to a record high of 72 percent who were anticipating price rises in May 2015.
There are ten house hunters are chasing every home on the market as supply slumps by 28%. This you would have thought might cause an increase in house prices, however, this is yet to be seen.
The number of properties available to purchase plunged to a new low for the month of March. These figures come from the National Association of Estate Agents.
These figures state that there was an average of 39 homes for sale per estate agent branch, compared to 44 in February. These are the lowest recorded figures since March 2002. This isn’t good news when house prices are also dropping. Does this show that the sell house fast market is dwindling? Time will tell.
Over the year supply is down a massive 28 percent. There were 54 properties available per branch in March 2016, while the number of registered house hunters on the books is down a slimmer five percent over the same period.
According to Mark Hayward CEO of NAEA ‘Thanks to the supply slump, there are currently ten house hunters chasing each available property’.
There seems to be a growing trend for homeowners to stay put is becoming more and more common. So what is driving this refusal to move on the ladder? We say it’s down to political uncertainty. It seems that people are more inclined to make home improvements rather than move. Getting that extension rather than enter into a difficult market.
The trend for homeowners to stay put comes amid growing political uncertainty. It also suggests that many may be choosing to extend or improve their own home, rather than moving up the property ladder.
Many people are saying that the general election is a reason why the market is slowing? But is this really the case. Some agents are suggesting that you don’t either and that the sell house fast market is still good this spring despite the election. Is this really the case or just a rruse to stimulate business in an uncertain market? Time will tell.
Are there any ways around avoiding the expensive cost to sell house fast?
So what if you need to sell house fast service. We can provide you with some sell house fast market tips to get you ahead of the competition.
Selling your house fast can sometimes be a struggle, with the government tax, estate agent fees and disbursements. The fees can run into the tens of thousands of pounds.
There are a few new ways in which you can look to try and sell house fast: –
Auction Houses – This has always been the traditional way to try and achieve a sell house fast service. So what are the pros and cons? You will normally have to market your property for a number of weeks (4-8) to drum up enough interest. From there it will go to the room and if (it’s not guaranteed to sell) then you will have to pay the auction house a fee. So what happens if your property doesn’t sell? Well, the bad news is that you may have tarnished the value. Why? Well, most auction houses will require you to market the property at a lower price. If it fails to sell then you may struggle to re-market it at a higher price.
Express Estate Agencies – This is a new way of trying to achieve a sell house fast type service. They act in a similar way to most high street estate agents but they are online. By doing so, they have lower overheads so can charge fewer fees. Sounds great right, so what’s the catch. Well, you don’t get an agent to show people around (you will have to do that bit yourself) and they will ask you to market the property lower than its value in order to generate more interest. If the house doesn’t sell, then like dealing with and auction you could have tarnished the value.
Sell House Fast Companies – although this might seem like a new way to sell your house, cash buyers have been around for many years. To sell house fast to a sell house fast company, you will need a certain amount of equity. Most will require that you own at leat 20% of the property. They will then offer you a cash price to complete in a timescale that suits your need. All sounds too good to be true? Well, sometimes it can be. Here are a few sell house fast market tips. Always ask the sell house fast company if they are physically buying your property themselves or if they are selling it on to a third party. If they are buying it for they own portfolio then they should be able to show you proof of funding. When dealing with sell house fast companies make sure that they don’t tie you into a long contract. The final thing to check with any sell house fast company is that they aren’t going to charge you a fee to attend your property.
If you have any suggestions for what you would like to see on our next blog then email us at info@homehousebuyers.co.uk