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"We wanted to up-size to make room for our growing family, but needed to sell our flat first and National Homebuyers enabled us to do this quickly. They simplified the whole process of selling and enabled us to purchase our dream property! New lettings overtake sales for the first time in over 80 years"

Mr & Mrs H, Space

"After inheriting a property from my late Mother, I approached National Homebuyers. I had been caring for my Mother for a number of years and the thought of selling the property using an Estate Agent was a hassle that I did not feel able to cope with. The sale of the property was a difficult […]"

Mrs J, Lydney, Gloucestershire

New lettings overtake sales for the first time in over 80 years

As the uncertainty over the state of the UK property market continues, new research indicates that 2017 could see a greater number of new lets than sales.
Across the country, 2016 has been a strange year for the property market. With the stamp duty hike early on, followed by the Brexit vote in June, property selling experts have done their best to estimate the direction the market is headed – but so far, its behaviour has been rather unpredictable.

Without a doubt, the referendum has made many potential buyers feel uneasy about whether or not now is the best time to be investing in a house, but more importantly it’s also making those who already own more willing to wait until the market has settled before they consider selling.

As a result, those who were previously looking to buy are maintaining their status as renters for the time being – and a new report from the UK’s largest estate agency Countrywide states that 2017 is likely to be the first year that new lets overtake sales since the 1930s.

 

This news is perhaps unsurprising, given that various government schemes such as help-to-buy have now finished. When coupled with the fact that various lenders withdrew many of their low deposit mortgages, it is clear why first-time buyers are facing a longer wait to save the necessary funds.

“The shift between the number of properties being offered for rent and sale has been a long-term trend, boosted a bit by stamp duty and a bit by the Brexit vote,” said Johnny Morris, research director at Countrywide.

While this is great news for landlords who continue to profit from generation rent, those looking to buy are finding it harder than ever to scrape together the money for a down-payment. This report is also unlikely to be welcomed by those looking to sell their home fast, as vendors report lower numbers of viewings across the country.

There are, however, property buying companies who are willing to buy any home for cash, offering competitive prices for houses regardless of location or condition, aiding those who need to move in a shorter time frame due to work commitments or simply to retire.

Looking to sell your home fast? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

 

Homebuyer Man is the public face of National Homebuyers’ expert property team, keeping up to date with all the latest industry news, property trends and market information.

Homebuyer Man’s experience in the property market is unmatched, providing expert information and exclusive insight on all things property, whether that be mortgage advice or drilling down into the best times to buy and sell in different areas across the UK. With more than 15 years’ experience, there isn’t much Homebuyer Man doesn’t know when it comes to the property market.

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