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Why is moving home easier in 2024?

February 6, 2024

Why is moving home easier in 2024? You can move quickly, renewed and optimistic interest, it's a mover’s market, the advantages of higher interest rates, your local agent makes moving easy .....

You can move quickly
Homes placed on the UK property market took an average of 34 days to sell in 2023*, this is a little longer than the ferocious pace of previous years. But currently, sales completions are taking less time due to conveyancers and removal companies not being backlogged. The start of 2024 has seen a plethora of serious buyers come to the market. Early indication would point to the year looking set to improve on all fronts.

Renewed and optimistic interest
January and the build-up to spring bring an influx of homes to the property market. Many people who hesitated in 2023 because of a bleak outlook ringing in their ears, which never materialised, are now getting on with their moves. The outlook for 2024 appears increasingly promising as banks offer better interest rates. Again, requests for free valuations so far this year has been very encouraging, meaning that confidence is growing out there, as more and more homes enter the market it gives you greater choice. From cottages to apartments, combining modernity with timeless character, greener homes, homes in need of modernisation, and rental-ready buy-to-let investments.

It’s a mover’s market
Your home’s value is unique. As Wakefield continues to develop, with both City Fields, Rutland Mills and the Wakefield Civic Quarter all helping to shape the face of our city for the good, it can get confusing when it’s time to value your home. This makes your agent’s skills invaluable. Prices have fluctuated in the past 12 months, but have stopped rising at a rapid rate. This leaves you in a good position; you will get a good price for your current home compared to pre-covid prices, but you will also pay a reasonable price as opposed to an overinflated price for your new home.

The advantages of higher interest rates
You can’t be blamed for hating higher interest rates! The banks seem to win every time. Mortgage providers are constantly competing and offering an increasing number of products at more affordable rates at the moment. Products such as offset mortgages and porting (moving home with your existing mortgage) to longer repayment terms mean the banks aren’t all bad! And with higher interest rates, property prices don’t spiral out of control, and you get a better property for a cheaper purchase price in a more stable market.

Your local agent makes moving easy
At a competitive price, your local agent is worth every penny in today’s market. The fragmented and resilient UK property market is more complex than ever, so agents are vital for valuing your home correctly who have the local expertise and knowledge. This, combined with guidance in negotiation, means you will most likely save money and time. Agents want to keep the momentum in your home move as much as you do. But it’s their connections and market knowledge that can transform your move. Guidance and advice bring about emotional support and potentially a cheaper mortgage.

Contact us for a stress-free and happier home move