The much publicised ‘Help to Buy’ scheme has focused mainly on assisting First Time Buyers but it also enables another very important group of people to move as well. There are many Buyers (who are also Sellers) and if this sector entered the market it will help address the main issue affecting the market today – the shortage of property for sale.
More than anything else this is enabling house prices to rise so the market needs more sellers to step into the market to create more transactions. The question is will they?
These home owners will have also been assisted by the increase in value of their homes enabling them to use this equity to provide a sufficient deposit. Couple this with the ‘Help to Buy’ scheme and many of these sellers can move if they want to.
The scheme is now gathering traction and buyers and sellers may well be gearing up for next year.
My advice to buyers – buy now.
Sellers – market conditions are very good and there is excellent demand. October & November are traditionally good selling months – even more so this year, so why not take advantage and sell now?
Ed Mackenzie Smith