The housing market in Bromsgrove and across the wider UK region is currently in a positive state, with projections suggesting that it could rise by about three per cent throughout 2024. Experts also expect cumulative growth of 20.5 per cent in the five years running up to 2028.
If you have been considering selling your house, 2024 could be the ideal time to do so. If you wait too long, there’s a chance that you could miss out on the best price. That’s because some analysts predict a potential recession in the coming years.
Favourable Market Conditions for Selling
Many homeowners don’t realise this, but the real-estate market is heavily influenced by wider macroeconomic cycles. Just as assets like stocks go through bull and bear markets, so too does the housing market.
Currently, there’s a global bull market in which everything from stocks to crypto is steadily rising. This is likely to continue throughout 2024 and 2025, but many analysts are predicting this to end before the start of 2026. That means that house prices could peak in this period and then plummet in a potential period of recession.
It’s also a good time to find home buyers, as mortgage rates have been eased in recent months. There’s a lot of interest in the Bromsgrove housing market, as the area is seen as a prime location. Annual growth has risen to 1.6 per cent in Bromsgrove, with the average price going up by £2000 in February alone.
How to Sell Your House Easily
If you’re thinking about selling your house, it’s easy to do so in the modern age thanks to the assistance of handy online tools. The days of putting your home on the market and then waiting months for a buyer are over, and this is great news for people who want to make a quick sale and capitalise on the current economic landscape.
There’s a dedicated “sell my house” industry online in which homeowners can get their hands on rapid offers for their homes. Indeed, they can expect to receive a bid within minutes, and if they accept it, they’ll get the funds within a week. With guaranteed sales on any property, it’s ideal for people who want to take advantage of favourable real-estate market conditions.
Economic Forecasts and Recession Concerns
Even though the current economic climate is great and there’s cause for optimism, it’s always important to be aware that there could be a recession around the corner. Various analysts have pointed towards a looming crisis, which could come in the next few years. If this does become a reality, it will severely impact the housing market. At this point, people who didn’t sell may wish that they had.
The decision to sell your home shouldn’t be taken lightly. However, if you have been toying with the idea for some time, you may want to pounce on the opportunity to sell while the market is in a strong state.
Article written by Tom Sand
