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Private poperty sales – they are on the up

Private poperty sales – they are on the up

Property to sell or not to sell that is the question

When looking to sell my house I had a big question to ask myself, will I get the price I want, and if not am I likely to get it iint he next year?.

When selling a house its always difficult to know what to do. Historically prices have always gone up, its peaks and troughs and all about timing, however with the restriction on bank lending at the moment I cant see how prices will contain to climb over the next 12 months. The only people selling property are those with enough equity to fund the next purchase, remember based on the lending criteria today most banks require a minimum of 25% deposit.

The case rich buyers will only last so long and when looking to sell my property this was the biggest factor. Most young buyers do not have ?50000 as a deposit, and generally first time buyers and the buy to let industry sustained house prices. The number of private property sale have gone up because people want to save money on Estate Agent fees and quite rightly.

Prices will steadily increase, but not hugely sit tight and ride the financial storm out that is my advice. There is no money available in the mortgage market and this wont end any time soon.The property market will always be here, save your cash and perhaps think about home improvement.

I’ve bought and sold lots of properties over the years and its not as glamarous as it seems. Property is great when things are going great but it’s hard when you make a wrong decision you’re stuck with a huge financial burden.

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