Is it getting better, or isn’t it? Early April’s optimism, based on a small but historic increase in the average house price (the first in many a long year) is being supported by the recently reported jump in sales, by a huge 40% up on February. However, this is on top of a very low base. Still, even adjusted seasonally, there is a significant increase (around 13%). The wise have probably been sitting tight, keeping themselves otherwise debt-free (aside from the mortgage), and keeping an eye on the market. There may be a light at the end of the property tunnel. Mortgage lending is also up, buoyed by the earlier fall in prices and the significant drop in interest rates. But market commentators unfortunately warn that this is probably no more than a seasonal blip.
Those with a bit of cash may be thinking that this is a good time to find bargains, and they may be seeing their money go further. Perhaps it’s time to look at non-traditional ways to sell your house. I have long been annoyed by the way estate agents come between buyers and sellers, so that you can’t negotiate your own deal any more. There are operators who will buy houses for cash, taking the risk on themselves for selling. Or you can opt for a private sale.
As I’ve said before, there’s nothing like a recession to stimulate innovation. It’s time to look for creative solutions and do things differently.