If you’re thinking of putting your house on the market at some point in the future, you might find that the next few months represent an excellent time to do just that, with house prices on the rise throughout the UK, according to the latest RICS UK Residential Property Survey.
The December 2024 iteration of the publication revealed an increase in new buyer enquiries, with house sales continuing their upward trend and new instructions registering a bounce with a net balance of +14 per cent, perhaps down to stamp duty changes pushed through in March.
Commenting on the findings, Simon Ruinsohn – RICS chief economist – observed that these results demonstrate further improvements in sentiment in the housing market, despite mounting fears over the possible impact that rising bond yields might have on borrowing costs.
He went on to say: “More significantly, the signals from the survey around expectations over the next twelve months also remain solidly positive for now. However, the resilience of the uplift in market mood could be tested if the mortgage rates do begin to climb in a material way over the coming months.
“That, critically, would also be a concern for developers who will want to see a solid market as a backdrop for ramping up housebuilding to help meet the government’s ambitious 1.5 million homes target for this parliament.”
As for lettings, tenant demand has stabilised, with further rent rises expected to be seen off the back of growing numbers of landlords putting their properties up for sale, creating a lack of supply.
3 top tips for selling your house
Selling your home is an exciting time but it can be difficult to get the price you’re looking for. As such, it’s essential that you do all you can to market your house appropriately, bringing in the right kind of buyer and maximising your chances of getting close to the asking price.
The key is to show your house off as well as you can to encourage those sales. Decluttering is important, but not at the cost of personalisation. You don’t want the house to look sterile but potential buyers need to be able to visualise themselves living there.
Giving the entire house a fresh coat of paint can also make a huge difference, making it seem lighter, bigger and cleaner. Buyers will also appreciate the fact that they won’t have to make any immediate changes to tidy up the walls.
It’s also important not to neglect the outside of the house – particularly the front garden and driveway. Buyers often make up their mind about a property before they even step foot inside, so make sure that everything externally is tidy, well looked after and in good condition.
If you need any further help or advice, get in touch with the Moore & York team today.