With the end of the Christmas festivities and the children back to school, in January we see the property market pick up once again. Now is the time to get your home ship-shape and arrange a valuation. But is it the right time to sell, this Spring? Yes, there are uncertainties over Brexit and it’s fair to say buyers are somewhat cautious. But the demand is out there, especially in the Altrincham region.
The market remains strong
Despite all the turbulence in the country’s property market, figures coming through at the end of 2018 via data from the Halifax show a slight improvement in December. The annual price growth was at 1.3% compared to 0.3% the month before. For the year ahead, continued stability is forecast, albeit to a more subdued level compared to what we have been used to over the years. As the year progresses, we expect figures to be impacted nationally by issues such as lack of stock, shortage of affordable housing and mortgage affordability. But when we look at the market at a local level, we can be more positive about the immediate future.
Altrincham leads the way
For some time now, Altrincham has been hitting the headlines as it continues to scoop accolades. The town has been named the high street of the year nationally and the best place to live in the North West. And then there’s all the first-class reviews the revamped market brings. This has all helped propel the region’s popularity. From the excellent schools across the area to the convenient transport links taking commuters to and from the city centre and Media City, Altrincham has a lot to offer. And we know more than anyone, with our independent estate agents nestled in the heart of The Downs, that this growing interest has seen an increase in the price of and demand for properties across the region.
To sell or not to sell
Despite demand, Land Registry figures show the number of homes sold in the Altrincham area in October 2018 compared to the year previously are approximately 30% less. The significant decrease in sales is due to fewer people selling their homes. This can be for several reasons: there’s fewer options for those looking to stay in the area and upsize or downsize, deposit and mortgage affordability, or of course the uncertainty around Brexit. Instead of selling, many home owners are turning to renovations and extensions to get the extra living space they need. And that’s the crucial decision, to sell or not to sell this Spring…?
As local property experts, we offer honest, independent advice on not just your property but also your situation. Whether you want to understand the potential value of your property before and after any extension work, if you’re not sure when the right time is to move, or if you are keen to sell but haven’t found anything suitable to upsize to – we can lend our expertise.
What we can say is that if you do decide to sell this Spring, the demand in the Altrincham region is there and we are confident we can get you the best price for your home.
Contact us for a free valuation or a discussion about your situation – we know the Altrincham and surrounding areas and can help you with your decision to sell, let or buy.