We’ve all seen the attention grabbing headlines about rising house prices, but are national headlines such as UK house prices ‘will rise 25% in the next five years’, UK house price rises accelerate, says ONS and House prices rise 5 times faster than wages – how a property can make you money, standing in the way of your property sale?
Danny Luke, Business Manager at Quick Move Now, explains:
It’s easy to get very excited by national headlines that promise huge price rises, but these headlines frequently have a strong London-bias, and those levels of growth are just not realistic in every area of the country. Some areas of the country are seeing a substantial rise in property prices, but other areas in Wales and the North East are seeing stagnant prices, and even price drops.
Assuming that these national headlines apply to every property in the UK will lead to overinflated pricing and properties that are difficult to sell.
It’s important that you pay far more attention to the local property market than the national headlines, and also look at what properties in your area have actually sold for, not just the price they were marketed at.
There are a lot of online resources that can help you build an accurate picture of your property’s true value; websites like RightMove, Zoopla and the UK Land Registry can tell you what properties near you have sold for, and a few basic details about the properties so you can make a comparison and start putting together a realistic picture of the figure you can hope to achieve.
If you’re looking to sell your house quickly, Quick Move Now can buy your house in as little as 7 days.Fill out the form below for a free, no-obligation estimate.