Now is the Time to Sell Your House in Cardiff
Spring is a time when we’d traditionally see the property market pick-up speed. So far in 2017 the number of enquiries from potential property sellers has decreased from 2016 and news last week from the Royal Institution of Chartered Surveyors shows a record low in homes for sale across the UK.
Why are we in this situation when there are so many buyers in Cardiff enquiring about purchasing property?
There have been two significant influences on the housing market in 2016 and early 2017: stamp duty and the EU referendum result. There is now third question mark, the general election later this year.
Stamp duty changes introduced two years ago had an impact at the higher end of the market, where the upfront cost of buying a home had increased. From the beginning of 2017, the Brexit poll has triggered uncertainty in the market and this uncertainty is set to continue into 2017 whilst negotiations with the EU continue.
So, what is the current situation in the Cardiff property market? Actually, a shortage of instructions coming on to the market is resulting in an excellent time to sell.
So why is it a Seller’s Market? Quite simply, demand is significantly higher than supply so the seller has the upper hand. Spring and summer is generally a good time to sell and with the shortage of new houses on the market we anticipate a strong position for sellers despite the economic uncertainty.
The general feeling in the property industry is that if you are thinking of selling your house, don’t put it off. Now is the time to list while the demand is so high and you have the upper hand!
Thomas H Wood, a leading Cardiff estate agency has two locations across Cardiff, in Whitchurch and Radyr. We sell and let and properties all over the Cardiff and the surrounding areas.
Whether you’re considering selling your house this spring or starting the search for your dream property, get in touch with our team today to see how we can help.Tweet
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