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So what will my property be worth in 2016?

forecasting-the-future

One of the first things any estate agent gets asked is for an opinion on the health of the housing market. What’s going to happen in the next few weeks? If I want the best price for my house, should I put it on the market now or wait for a few months? I’m thinking of selling my house next year so what will the market be like by then …? That sort of thing.

Although some will want to dress it up a bit, the best most can do is make an educated guess and, admittedly, a lot of the time, they won’t be that far off the mark. But, in the same way that a doctor can make a pretty accurate diagnosis of a patient’s illness, it’s almost impossible to be 100% accurate on a prognosis as there are so many variables which can influence the outcome.

What we can say at the moment is that – like the Government – we anticipate property will be worth considerably more in five years’ time than it is now. Extrapolate the current trend and it could be up by as much as 30% (http://www.propertywire.com/news/europe/uk-house-price-forecast-2015071410743.html).

However, there are no guarantees that it will be that high. For example, The Bank of England can always raise interest rates and more expensive mortgages would be bound to slow demand, encouraging prices to level out.

We hope it doesn’t sound too glib but, at Esale, our advice has always been the same. The best time to sell your house is when someone wants to buy it. You might get more for it in a year or even in six months’ time but, equally, by then, your buyer may have gone somewhere else and your property may be on the market for several months, which may prompt you to drop the price.

If you want to get the ball rolling, just give us a call. Let’s start with a professional, no-nonsense, no-obligation valuation … //www.esaleuk.com/free-valuations/