Dominic Parravani of Durrants has some thoughts for property buyers and sellers who wish they could see into the future.
Don’t you wish that just once you could have a sure fire tip about the perfect time to buy and/or sell an investment?
If only you or your parents had known to invest in a small Californian computer start up company called Apple in 1976. An £800 investment then would be worth over £30 billion today.
Finding these tips and then acting on them is the stuff of legends. But it is still possible to do the right thing at the right time by listening to the right people.
For example, a good estate agent with great local knowledge knows exactly what is happening in the property market. So, if you are thinking of buying or selling your home, a good first move would be to get the best local advice.
And what would we, at Durrants, say if you asked us about the market right now? We would say that, following lockdown, we have not seen as buoyant or active a market as this since before the great recession in 2007/8. We would tell you that properly priced property is flying off the shelves. But we would also tell you that the property market is cyclical, and that sometime after this scramble to buy and sell is over, the market will eventually cool – it always does. It cannot stay like this forever.
Finally, we will tell you that now is as near perfect a time to buy and/or sell a property as you are likely to find, and that periods like this only come round every ten years or so. Plus, this time, there is Stamp Duty relief for many home buyers, and the lowest mortgage interest rates in history.
You’ll be pleased to know that we don’t charge for insightful property advice, and while we might not be able to turn £800 into £30 billion for you, we can help you make the most of what is probably your most financially valuable asset.
So, go on, make a legendary move…