Is it time to take the plunge and buy?

Morgan & Associates have experienced signs of green shoots and have had a busy April and May with sales being agreed...

It is interesting to see that there is no a more optimistic air in the housing market since the beginning of the year. According to the Royal Institute of Chartered Surveyors inquiries rose for the fifth consecutive month is March, and at the fastest pace since September 2003, and figures from the Council of Mortgage Lenders also showed a 4% increase in the number of mortgages approved in February.

Many people are feeling that now is the time to buy – because most of the falls have happened but they are still able to buy with confidence provided the price has been adjusted to reflect this. There are currently low levels of stock available, particularly in the more popular villages which normally are impossible to buy into – now is the time to buy particularly if that dream home becomes available.

Buyers are willing to enter the market again when they see what they think are fair prices, particularly those with reasonable equity – and looking to trade up as the gap has closed and is making this very achievable.

First time buyers also can benefit from the extension on the stamp duty holiday announced in the Budget last week on properties priced £175,000 and below, if they can find one!