Experts warn of a fall in prices within the housing market in the new year.

Even though Halifax has reported the fastest rate of property inflation in four years with an increase of 7.6% over the past 12 months, many believe this is not sustainable long term.

The ReallyMoving price analysis suggests that the property market will see the house prices fall by -1.2% in January and -2.5% in February.

The end of the stamp duty holiday, as well as the furlough scheme in March, are going to further impact the prices.

According to Mick Silver, CEO of digital property platform Moovshack, a no Brexit deal is also going to affect the fragile economy and could reduce the buying activities in the new year.

Although we have been enjoying a mini-boom, the rise in value and surge cannot last forever.

housing market

Should You Sell Your Property Now?

The kind of growth that we have seen in the housing market since the lockdown makes this the ideal time for property owners to sell.

The overall new year predictions do not look promising for sellers. If you have been debating whether to sell or not, you should act now.

If you do it now while the market is strong and active, you can make sure to have enough time to find a buyer before the cuts are made to both the furlough scheme and the stamp duty holiday.

All the evidence shows that right now could be the best time to get your property on the market.

housing market

Tips For Estate Agents

Many estate agents are aware of the housing market predictions and expect the house prices to decline in the new year.

The current unemployment rates will continue to rise when the furlough scheme gets cut.

The likelihood of a no Brexit deal can further damage the economy, which will limit the employment recovery.

Estate agents should make sure to offer virtual viewings for each of the properties listed on their site.

Not only they can save time, but the virtual property viewings can be more efficient and effective in finding potential buyers by eliminating the time wasters.

Virtual viewings can also lead to quicker sales because properties can be viewed by anyone, anywhere, as long as they are connected to the internet.

We know that some estate agents will consider pulling their spendings from their marketing efforts, but this is the time that estate agents will most benefit from online marketing.

With the virtual viewings and the rise in digital connections, investment in SEO matters more than ever. It is the only way to make sure you are visible amongst your competitors.

We have been helping our property clients with Facebook and Google ads to ensure that they have a stream of steady leads coming in.

Estate agents should make sure to find and adapt to all of the possible online platforms that can help their business survive.

housing market