A new year, a new home?
Scottish property finders, Garrington discuss why the early months of 2022 could be the best time of year to purchase your next property.
For many people the New Year is a special time filled with resolutions and hopes for the year ahead. It is often also a time when plans are hatched for moving house. Historically, property portals experience some of their highest levels of visitor traffic over the Christmas break.
As activity in the property market returns in the first weeks of 2022, buyers should be alert to the fact that waiting for the spring market could mean they may miss some of the best buying opportunities of the year.
Ahead of the crowd
Many people incorrectly assume that the property market does not really offer much in the way of opportunities during the early months of the year and may therefore hold back with moving plans for several months. Whilst this assumption may have held true several years ago, there is overwhelming evidence to suggest that this is no longer the case.
The Scottish property market has bucked almost all traditional trends over the past 18 months, meaning historically quiet periods have been some of the busiest. This is particularly evident in the prime Scottish market, where competition to secure property is heated due to the severe shortage of properties available to buy.
The hidden market
At this time of year, many sellers open discussions with agents and explore the possibility of selling their homes. The early months of the year can also be some of the busiest in terms of ‘off-market’ activity, as discrete sellers explore whether there is a sales opportunity available to them, without the need for a full-scale marketing campaign.
With off-market property sales it is ‘who you know’ that matters. These opportunities are not openly listed online, meaning buyers must actively be in regular contact with selling agents to ensure their interests are registered and to gain early access to suitable properties. It is a buying agent’s relationships with local industry professionals that often gains access to exclusive properties.
Buying with confidence in 2022
Despite the New Year offering fresh opportunities, there are nonetheless fresh challenges for buyers wanting to move in 2022. The often-conflicting data in press coverage, and now quite complex localised markets, can leave buyers confused and unable to have confidence when finding a property. A full understanding of what’s really going on in a local property market, together with the right connections are pre-requisite to making a well informed and successful property purchase this year.
If you are thinking of moving in 2022 and would like further information on how Garrington can provide guidance and assurance and save you time and money when finding the right property, please do get in touch without obligation.