There’s been a fair bit of angst around the UK housing market for some time.
People took advantage of soaring prices a couple of years ago. Inevitably, that cooled down.
Political parties have since been called upon to tackle the overt issues of the housing market.
Second homeowners, landlords, and high bars for mortgages have all been hindrances of late.
Now, however, things may be turning around. Reports from the central bank show that UK mortgage approvals climbed to a 17-month high in February 2024.
This means that more people are on the market. More people have the funds to pay for their ideal homes.
So, after a cold winter and people understandably not even considering selling, is now the time to do so?
State of the UK housing market
In some parts of the country, house prices are sinking. Many of these are regions that saw the biggest bumps from the surge in prices a couple of years ago.
Places like London and the more idyllic surrounding regions where many Londoners claim their second homes have seen house prices decline over the last year.
Wales, the North of England (including Cheshire), Scotland, and Northern Ireland all saw increases.
In fact, the North of England saw a 4% increase. That’s just over the first three months of this year. Looking at Nantwich, the average sale prices over the last 12 months look pretty healthy, too.
Flats are averaging at £152,000. Semi-detached houses are looking at an average price of £254,000. Detached houses, which tend to be quite big around Nantwich, average out at £424,000.
Naturally, the market could turn at any moment. Prices in Cheshire could start to average lower just as those to the south have.
Yet, projections do tend to lean towards a slight and continued uptick. Sales have continued, Nantwich is a very desirable place to live, and there’s a direct train to a key city.
Nantwich to Birmingham New Street takes about one hour and 45 minutes without changes on the train.
A good time to sell
Following the surge of sales earlier in the decade, a much more competitive and user-friendly online real estate market has emerged.
From this, it is now possible to sell your house for free via an online platform.
The fully managed property selling service gets you on the market and seeing prospective buyers. The service comes without any fees or hidden charges while the process is laid out and made clear.
It just so happens that spring and summer are typically the best months to sell.
Usually, there are more buyers around, looking and willing to meet asking prices. The competition will only be made better now by the uptick in approved mortgages.
Being nice weather for viewers also makes for nice weather to work on the house. Doing bits of DIY, redecorating, or changing the kitchen or bathroom is best done in this warmer weather.
The housing market looks to be getting back on track. So, it might be a good time for prospective Nantwich sellers to jump in.
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