Is 2014 a Good Time to Sell your House
Since the housing crash and recession hit in 2008 the real estate market in the U.K. has had a mediocre recovery but 2013 brought the market back to life with an average 7.5 price rise across the U.K. Does the rising housing prices and abundant buyers mean 2014 is a good time to sell your house?
How quickly can you sell your house?
In 2011, Halifax started a survey to determine the attitude of homeowners towards selling their property. Since the survey started, attitudes have been pessimistic about the housing market but the 2014 Halifax survey shows a different trend. The data shows that over 50% of people believe 2014 is a good time to sell their house quick while less than half believe it would be bad time. Better yet, buyers are even more eager with over 60% saying 2014 is a good time to buy while less than a third think it will be a bad time to purchase property.
So what do the experts say?
The rapid increase in housing prices comes from increased demand that is partially from the governments Help to Buy scheme and growing confidence in the property market and economic recovery. The confidence in the market should take hold with property owners and encourage them to list their houses for sale, giving the market the supply that is needed to constrain housing prices.
Many believe that 2014 will bring more of the positive trends for most of the property market. It should be another positive year for property prices, as more demand will result in high equity. Furthermore, interest rates are stable and mortgages are historically low and this has encouraged buyers to get out and search the market for their dream home, making 2014 a good year to sell your house.
The housing market around the globe has certainly been turbulent but after the success of 2013, the majority of market watchers, landlords, buyers and sellers are optimistic that 2014 could be the year to increase your homes equity and gain personal capital.
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