2 minute read
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from At Home
by Perry Bishop
The housing market in 2023 started much better than was predicted after the poor autumn of the previous year. We have seen plenty of activity in all sectors of the market and are now advising a good number of sellers at the higher price ranges as they look to downsize and release equity.
We have seen a record number of interest rate rises but the beautiful areas that we work in are still attracting high numbers of cash buyers. With the onset of summer and longer, warmer days, we expect to see already busy activity levels increase as buyers and sellers plan to make their move before the end of the year.
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Transaction numbers and activity have settled at levels comparable to 2019 – which preceded the pandemic, stamp duty holiday and unprecedented external factors which led to the buying and selling frenzy of the last couple of years.
53% of all sales year to date are to first time buyers – the highest for ten years and the percentage of take home pay spent on financing is 33% - just 1% above the thirty year average. But with average wages up 7.2%, affordability is improving and the estimated 1.2 million households who will be squeezed when they have to remortgage in the next twelve months is a low percentage of the 28 million households with a mortgage. The real price of the average house is now the same as 2004 meaning in real terms house prices are value for money right now. With rents rising faster than earnings, it makes sense to buy now instead of renting. *
So we have a more ‘normal’ market where supply has increased providing buyers with more choice, and we are registering healthy numbers of active home movers across all our offices. This is not the market to overestimate the value you can achieve for your home, but priced sensibly with a professional and tailored strategy (our 11 Step Plan) to find you the best buyer who can meet your timeframe, there is plenty of opportunity to continue with your life plans and move onto the next chapter. Summer is the perfect time to take advantage of our drone service and professional photography, whilst your garden is looking at its best!
Contents
06 Cheltenham & Leckhampton
Properties for sale in and around Cheltenham & Leckhampton.
12 Cirencester & Fairford
Properties for sale in and around Cirencester & Fairford.
16 Faringdon Properties for sale in and around Faringdon.
22 Stroud Valleys Properties for sale in and around Stroud Valleys.
28 Going On Holiday
5 Tips To Keep Your Home ‘Viewing Ready’ While You Are Away.
30 Tetbury Properties for sale in and around Tetbury.
36 Perry Bishop Lettings Perry Bishop’s Lettings and Property Management services explained.
41 Eleven Step Plan Sell for the best price.
42 Land and New Homes Team Helping land owners and developers across the South West.
48 Selling via Online Auction
Have you considered selling via online auction?
50 Our Refer a Friend Scheme
Do you know someone locally looking to sell or rent out their property?
