IT'S TIME TO MOVE

Why are so many customers dusting off their moving plans and contacting our sales teams this summer?

Headlines about inflation, rising costs and Bank of England base rates have put dream of moving on hold? And we appreciate why. The past few years have been a whirlwind, and navigating the property market during uncertain economic times can be daunting.

But what if we told you the good news is growing month by month across the local housing market? Around The Robinson Jackson Group, which covers Southeast London and Kent, we're seeing a significant shift in the market. For people who put their plans on hold to ride out the economic turbulence, it is time to ignite your moving aspirations and contact our sales team to get the inside track from our local experts.

 

The Bank of England Cuts Rates: A Confidence Boost for Homeowners

On August 1st, 2024, the Bank of England finally cut the base rate of interest – a critical indicator that borrowing costs are likely to fall further. This is fantastic news for both buyers and sellers! The rate cut is expected to further stimulate the housing market, making it more affordable for buyers and potentially increasing the number of transactions, which is good news for sellers.

 

Why is the Base Rate Cut Important?

Consider the base rate as the "master switch" for borrowing costs. While mortgage rates aren't directly set by this rate, lenders consider it when setting their deals. This recent cut signals a potential decrease in mortgage rates, making buying a home more affordable.

 

The Robinson Jackson Group: Already Leading the Market

While the national market is predicted by Zoopla to see a 10% increase in homeowners moving, at The Robinson Jackson Group, we're exceeding expectations! Our 25 sales offices across London and Kent have seen a remarkable 19.6% rise in sales agreed for the first seven months of 2024 compared to the same period in 2023. This tells us two things – people are ready to move, and they trust our services to make it happen.

 

What Does This Mean for Home Buyers?

Here's the breakdown for buyers:

• Lower Mortgage Rates: The recent base rate cut, along with a more stable market, may lead to mortgage rates returning to the earlier levels of 2024, potentially around 4-5%.
• Stronger Affordability: While higher than pre-pandemic levels, these projected rates are becoming more manageable, especially with household incomes expected to rise faster than house prices in the next 18 months.
• Increased Confidence: The market is adjusting to the new normal, with buyers regaining confidence and offering closer to asking prices. This indicates a more balanced and healthy market.

 

What Does This Mean for Sellers?

Sellers can also benefit from these positive changes:

• More Active Buyers: With lower mortgage rates, buyer interest is rising. This means a larger pool of potential buyers for your property.
• Shorter Selling Times: Increased market activity leads to faster sales, so you can move on with your next chapter sooner.
• Competitive Offers: A healthy market encourages buyers to make more competitive offers, potentially allowing you to achieve a good selling price.

 This should give you the optimism and motivation to make your move with confidence.

 

Ready to Make Your Move?

Navigating the property market can feel overwhelming whether you've moved many times or are a first-time buyer. That's where The Robinson Jackson Group comes in! Our experienced and friendly team will guide you through every step, from finding the right property to securing the best mortgage deals. We offer a range of services, including property valuations, market research, and negotiation support, to ensure you have a smooth and successful buying or selling experience.

 

Here's How We Can Help:

• Free Market Valuations: Get a realistic idea of your property's current value, ensuring you price it competitively for a quick sale.
• Expert Local Knowledge: Our team knows the London and Kent property markets inside and out, helping you find the perfect location for your needs.
• Impactful Marketing Strategy: We create plans to showcase your property to engage buyers across a wide range of marketing platforms, including a massive database of people ready to view.
• Dedicated Sales Team: You'll have dedicated points of contact on hand throughout the entire process, working together with you to ensure a smooth and hassle-free experience.
• Competitive Mortgage Rates: We work closely with our in-house Mortgage Advisers, who secure competitive deals available to our customers.

 

Don't Wait – Let's Get You Moving!

The headlines might have caused a temporary pause, but the property market is bouncing back in a big way. With lower mortgage rates, increased buyer confidence, and a supportive sales team by your side, now could be the perfect time to make your next move! This exciting opportunity is waiting for you, so let's not wait-let's get you moving!

Contact your local Robinson Jackson Group office today, and let's turn your moving dreams into reality!

 

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