With so much worldwide and economical uncertainty, rising interest rates plus reports that property prices are falling, that is the question I have been asked many times over the last few months. Since the first quarter of 2020, we have seen the market soar due to demand far outstripping supply especially in counties such as Hampshire. This was never going to be sustainable and a period of levelling off and in some cases, adjustment was due. Having said that, Winchester and surrounding areas are on the whole resisting and holding well, which historically has always been the case. Only this week I have received several new enquiries and two offers have been made on a property we are selling within the family just outside the centre of town.

It is a big risk trying to predict the bottom of the market, how much prices might fall ( if at all ) – by the time you hear about it on the news it will be several months behind as they base their statistics on information from Land Registry which takes a while to update.

I have always advised clients to think long term when it comes to buying their new home. If they are planning to be there for 5 years plus, as the majority of people are, they will not lose money in the long run in an area such as Hampshire. It’s also important to keep focused on the reasons for moving. Whether downsizing, relocating for work/schools/quality of life, being closer to family or have an expanding family, if the right property comes along it is important to see the bigger picture rather than worry whether the value of your new home might decrease in the immediate future.

If you want a free, no obligations chat about the market and your move, please do get in touch. In my 30 years of working in property I have a wealth of experience, guidance and advise to offer.

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