Has the market peaked

If the property market has peaked, it doesn’t spell bad news for everyone

Here at Moovahome in Swindon, we were interested to see an article in the Guardian newspaper with the headline British property market has peaked. Now unless your interest in the property market in Swindon is purely from an investment angle there is no need to panic and, if anything this could well boost sales. If you have a house for sale in Swindon and you are wondering how the peaking of the property market may affect you then perhaps the best thing to say is you are not alone.

Unless you’re prepared to speculate heavily, the majority of us, other than first-time buyers obviously, will sell and buy at the same time. To put it in the simplest of terms, you are selling and buying on the same market, so the actual effect could virtually be noticeable.

Interestingly, one of the comments made in the article is that if you want to sell your house today you have to be prepared to drop your price. Now such a comment might put you on the defence but please do not forget one thing. If you are looking to drop your price to attract a buyer then the vendors of other properties which you may be interested in will have to do the same if they wish to sell.

Swindon houses for sale

Here at Moovahome, if you have a house for sale in Swindon, what we do recommend to vendors who are keen to move is to get an offer on your property, whatever the level (you don’t have to accept the offer made on your property immediately), and then see whether as a potentially able buyer you can negotiate hard and fast on other Swindon houses for sale, if you are moving locally.

As an example, you may have a property for sale at £220,000. You have done your budgeting and based on that figure you could afford to pay £320,000 for your next property. The difference is £100,000. Now if you were to receive an offer of £175,000 for your property, your immediate reaction might be to refuse it out of hand as being far too low.

However, if that offer of £175,000 enables you to make an offer of £275,000 on a property that is for sale at £320,000 and your offer is accepted, you have still achieved what you set out to, which is to pay an additional hundred thousand pounds for exactly the type of property you have been looking to move to.

In this instance the most important figure is not the figure you sell your house for, or the figure you pay for a new property, it is the difference in price between the two.

As we mentioned, if you get what might appear to be an extremely low offer on your property, you don’t have to accept it, just don’t reject it straightaway and instead, as a potentially able buyer, see how well you can negotiate on another property and then depending on how you get on, you can either accept or reject the offer, or try and negotiate further. This is one of the best ways of buying and selling on a property market that has peaked.

As a consequence, if you want an estate agent to work for you and with you with the express purpose of helping you move to an ideal new home, come and talk to us here at Moovahome, and discover what it is like to sell your house through an estate agent who understands how to deal with changing property markets.