Positive signs thanks to flurry of activity across all sectors of the property market
Branch manager, Burchell Edwards
The warmer weather may be on its way out, but the sun is still shining on Leicester's buoyant housing market.
Contrary to the usual lull in activity throughout the summer months, we at Burchell Edwards are pleased to report a greater number of buyers looking to purchase property which is clearly good news for anyone who is looking to sell.
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This trend has continued in September with the continued strength of the buy-to-let market and greater availability of mortgage finance playing a key role.
Interestingly, and perhaps a sign of things to come, we have seen strong activity at the lower end of the market with many more first-time buyers and investors looking for homes in the Leicester area.
As a university town with a strong and healthy market for student lettings, this interest from investors is perhaps not a great surprise.
However, increased interest and activity from first-time buyers is a positive sign of how the market is shaping up for the rest of the year.
These buyers form the lifeblood of the market, enabling second and third time movers to sell their homes and gradually fuelling property sales up the chain. Greater availability of higher loan to value mortgages and schemes like NewBuy are certainly having an impact on buyers who are looking to get on the property ladder for the first time.
Equally, gradual increases in property prices are helping second and third time buyers who previously had insufficient equity in their homes to secure mortgages and move home.
As we enter the autumn market, I expect to see a flurry of activity from buyers looking to sell their home and move on before the Christmas period kicks in.
With this in mind, anyone thinking of selling their home needs to act quickly to take advantage of the annual autumn peak in interest.