Thinking of moving? With interest rates beginning to settle and less competition in the market, now could be the perfect moment to take the leap. While some buyers are taking a ‘wait and see’ approach, others are asking: “could now be a smart time to make a move?”
Whether you’re navigating your first purchase or planning a major move, our Residential Property team offers some insight into what’s happening in today’s market, and how you can make smart, informed decisions.
What’s going on in the market?
The current property landscape is slower than usual, but not without opportunity. While average house prices have dipped slightly in many regions, demand hasn’t disappeared — it’s simply more cautious. Affordability is still a major consideration, and buyers are taking more time to assess value before committing all of which means well-prepared sellers and well-informed buyers have the upper hand.
Thinking of buying?
A quieter market can be a strategic time to buy — especially if you’re in a strong position financially or aren’t relying on selling a property first. With less competition, there’s more room for negotiation and less pressure to rush decisions.
Tips for the buyer:
- Get your mortgage agreement in principle before you start viewing;
- Research the local market to spot realistic pricing;
- Be ready to move quickly if you find the right property;
- Instruct a solicitor early who will carry out ID checks for you so you are ready to proceed with your purchase as soon as you find your new property.
Thinking of selling?
If you're planning to sell in 2025, presentation and preparation are key. Buyers are more selective, and achieving a smooth sale depends on being proactive from the outset.
Tips for the seller:
- Instruct a solicitor early to prepare your legal pack and avoid delays;
- Get your paperwork ready by collating Planning and Building Regulations consent and certificates; guarantees and servicing reports;
- Set a realistic asking price based on current local trends;
- Make your property as appealing as possible — first impressions still matter.
Thrings’ Residential Property lawyers are skilled at navigating the rarely straightforward processes that are buying and selling and offer professional, open and tailored advice that gives you confidence in making the right decision for you, guiding you through every step. To find out more about how they can bring clarity to your dealing with the property market, please get in contact.
