19 Apr HAS THE INVASION OF UKRAINE AND INFLATION HAD AN EFFECT ON THE PROPERTY MARKET?
At this point in time the market remains strong. The rate of increase in house prices is stabilising, more because there are increasing numbers of properties coming onto the market, rather than any diminution in demand. Each attractive new property generates a flurry of interest and if you are in the market to buy, you will still need to move swiftly, in order to secure the one you want.
The reasons for moving still remain. The desire, underlined by the restrictions of the last 2 years to have a garden, is one. The need for more space for family pursuits another. Those families where children have ‘flown the nest’ and are entering the next chapter in their lives, having removed the necessity for so much space, are now afforded the opportunity to release capital, from downsizing, to be able to enjoy some of the other pleasures in life, such as travel and holidays. It is an understandable wish to leave something for your family, but you deserve some enjoyment after a lifetime of work and thrift.
A younger age level wanting either to move to meet new job opportunities, or for proximity to sought after schooling can be the incentive, as well as increased space to expand into. These are just a few of the reasons for moving, but they illustrate the continuing aspirations that keep the residential market buoyant.