Sum­mer mar­ket up­date from Christo­pher Nevill

Harefield Gazette - - PROPERTY -

SUM­MER is in full swing but de­mand con­tin­ues to out­strip sup­ply across all price ranges and some ex­cep­tional val­ues are be­ing achieved for prop­er­ties in highly sought-af­ter lo­ca­tions and of­fer­ing ex­cel­lent ac­com­mo­da­tion, ac­cord­ing to part­ners at Christo­pher Nevill, Dar­ren Mur­phy and Chris Harper.

The two ma­jor prop­erty re­lated poli­cies in the gov­ern­ment’s re­cent bud­get – a pos­i­tive in­crease in in­her­i­tance tax thresh­olds and a phased re­duc­tion in mort­gage tax re­lief for buy-to-let in­vestors – are not af­fect­ing the short-term mar­ket po­si­tion and con­fi­dence re­mains strong.

A re­cent re­port from lead­ing prop­erty web­site Right­move shows that the num­ber of new prop­er­ties com­ing to the mar­ket has eased and the cy­cle of sellers not putting their homes on the mar­ket be­cause of a fear of not find­ing a prop­erty to pur­chase has come to the fore.

Whilst this ap­proach may seem un­der­stand­able, it ac­tu­ally works against the in­ter­ests of sellers who find them­selves un­der pres­sure to find some­where, have less room for ne­go­ti­a­tion be­cause they are not in a strong po­si­tion to pro­ceed, and then find they are un­der pres­sure to sell and don’t max­imise the mar­ket­ing and value of their own home.

Putting a prop­erty on the mar­ket be­fore com­mit­ting to a pur­chase en­ables a seller to fully ex­plore the op­por­tu­ni­ties from a well mar­keted sale and to se­lect the most ap­pro­pri­ate buyer and price and, hav­ing done so, to use that strength of ne­go­ti­at­ing po­si­tion to se­cure an on­ward pur­chase.

Many prop­er­ties are only avail­able to buy­ers who are in a po­si­tion to pro­ceed and so a wider sec­tion will be avail­able to se­lect from too.

The let­tings mar­ket re­mains fast mov­ing and, in Uxbridge, the sum­mer is a time for stu­dents to get ready to oc­cupy ahead of the new aca­demic year at Brunel and other ed­u­ca­tional es­tab­lish­ments.

Bank of Eng­land Gover­nor Mark Car­ney has sig­nalled likely in­creases in in­ter­est rates from 2016.

Now is there­fore an ex­cel­lent time e to se­cure a mort­gage loan on one of f the many ex­cel­lent fixed rate schemes that are avail­able.

Whilst in­ter­est rates are ex­pected to rise very grad­u­ally and the base rate (cur­rently 0.5%) is not ex­pected d to peak at above 2%, any in­creases will ob­vi­ously im­pact on the cost of bor­row­ing and so lock­ing in a medium to long term deal at present t rates looks ap­peal­ing.

As al­ways, the ex­pe­ri­enced team at t Christo­pher Nevill are here to as­sist t and shall be pleased to pro­vide you with up-to-date in­for­ma­tion in or­der r to fa­cil­i­tate the achieve­ment of your mov­ing plans.

EX­PE­RI­ENCED TEAM:

Part­ners at Christo­pher Nevill, Dar­ren Mur­phy (left) and Chris Harper (right) and (top) the sales of­fice at 274 Uxbridge High Street.

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