Now is an ideal time to put your house on the market, according to Alun Thomas, director of Mallard estate agents and surveyors.
The South Wales firm currently has a healthy supply of potential buyers, but is seeing a slump in the supply of houses to feed this market. The result is that the available houses – especially those of a good standard – are tending to sell very quickly.
“There isn’t a great deal coming in – and the good quality houses are selling fast,” he said. “In the last month we sold several houses within a matter of days of them coming onto the market. If your house is in good condition and in the right location, this is a very good time to be selling.”
Alun speculates that the reason for the decline in the supply of houses is an air of uncertainty about the economy.
“A lot of people are considering upsizing or downsizing, but are hesitating,” he said.
He added that if you do decide to sell your house, now is a good time to take out a mortgage.
“Not only is there a good supply of buyers, but interest rates are low, so if you are going to to borrow money it’s an ideal situation. From an investment perspective, you can get a very good return on capital in the rental market. Everything that comes in just goes back out again.”
While it’s common for people to wait until the spring or summer to put their houses on the market, Alun says those who delay could be missing an opportunity.
“There is an active market even in February, and with demand higher than supply, it’s definitely a sellers’ market.”