At last, we have a more “normal” marketplace! We haven’t seen it like this since 2019 and it is very easy to forget how the market usually looks. The calmness shouldn’t be mistaken for a property crash though, despite mainstream media wanting us all to believe this. You know you will always have an honest opinion about the local housing market from us, perhaps too honest!
Some property prices find themselves readjusting slightly but there aren’t currently any signs of any significant changes to house prices in York, although some adjustments to asking prices and offers accepted have started to happen. Rightmove’s House Price Index reported average house prices have seen a reduction of 1.9% in August nationally.
The general housing market is very price sensitive at the moment and we are seeing this in York as well. More accurately and realistically priced homes are attracting buyers, generating excitement, higher levels of interest and subsequently offers. Sellers should consider their marketing price carefully before listing their property as usually the first couple of weeks of a new property launch brings the most interest. You don’t want to damage the prospects of your sale by pricing your home incorrectly at the beginning of the process!
If you are looking to move by Christmas then realistically September is the final cut-off for accepting an offer on a property and having a complete chain as the conveyancing process (the legal stage after an offer is accepted) is taking around 12 – 16 weeks at the moment.
Alternatively, if you are looking to purchase a property and be settled in your new home for the start of the new year then September is the month you need to be making the big decision when it comes to offering on properties. It is definitely worth spending time getting to know the local estate agents and getting on their radar as a proactive buyer. Properties are still sold from mailing lists before they reach the open market. If you are a first-time buyer, get yourself into the best position to purchase before viewing properties and making offers, take a look at our blog: “Looking to buy your first home?”
Someone is always one step ahead of you so make sure you are proactive with your sale or purchase to be the one on top in this current property market!
The team at Indigo Greens Estate Agents are available to support you with your next move – give us a call on 01904 373044 or email sales@indigogreensyork.co.uk
We look forward to speaking to you soon!
Written by Simon
