As we move into spring, aspiring movers will likely find themselves feeling galvanised to proceed with their homeownership goals.
Whether you’re a first-time buyer looking to get onto the property ladder, a second stepper seeking the perfect home for a growing family, or a downsizer on the hunt for a smaller property to help build a retirement nest egg, spring is a popular time with aspiring buyers and sellers.
Things are looking up
Those looking to buy a property this year will be pleased by news that the ongoing imbalance between housing supply and demand may be beginning to ease. According to Rightmove, the number of properties listed in the final week of January 2022 was up 8% compared with the previous year1.
Tim Bannister, Director of Property Data at Rightmove, commented, “The market has picked up pace after a busy festive period, and it’s really encouraging to see more properties start to come to market for sale. More new listings, coupled with the higher number of requests from prospective sellers to estate agents to value their home we are seeing, certainly suggests good news and positive signs we are moving towards a better-balanced market in 2022.”
However, he added that continued high demand would see buyers continuing to face “stiff competition” for available properties – so they “should act fast when a property they like comes onto the market.”
Banish buyer anxiety
In a competitive market, buying a house can feel overwhelming. In fact, 40% of homeowners in a 2021 report2 said that moving home had made them feel stressed and ill. From getting a mortgage to instructing estate agents, solicitors and surveyors, it’s a lot to deal with. Breaking the process down into manageable steps, and then dealing with each step as an individual task, can help make the buying process more manageable. For example, when it comes to finding suitable mortgage finance, our expertise could help take the pressure off and get you on the way to your homeownership dreams.
1Rightmove, 2022, 2Yopa, 2021
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments