Should you buy or should you sell?
It is almost 2019 and we need to start thinking about our property investment portfolio. Even if you are a smaller landlord with only a few properties or a normal home homeowner, it is good to look at the options for the coming year.
In 2018 we saw the housing market slow down quite considerably. Transactions were down and re-mortgaging reached an all time high. The question remains…
Will supply and demand for housing in 2019 see an increase in transactions?
Recent emerging data from experts state that 2019 will probably be another tough one for the property markets.
However, we have seen an increase in first time buyers, and this trend is likely to continue. So if you are looking to invest in property, then aiming at the first time buyers’ market could be a viable option. The only thing to bear in mind is that homebuilder stocks are not looking too hot – most likely due to the steep rise in labour costs.
Looking forward to what the next 12 months shall hold seems to be a bit bleak on the whole. However, buyers will have a lot of properties to choose from. That is if people have the capital available or are able to pay out for expensive properties and high mortgage rates.
Great News For First Time Buyers
There is an increasing surge of first time buyers, so selling to Millenials in 2019 is on the cards. The first time buyer group is fast becoming the largest homebuyer group, and this is going to hold true for 2019 analysts predict.
Not so Great for Sellers
Selling your home in 2019 might be a bit tricky, with so many houses to choose from it is going to be a buyers’ market. In the past, we have seen the property sector work in favour of the seller, which has allowed people to make some nice money from their homes. Experts have proposed that sellers in 2019 offer some incentives to help their properties sell quickly.
All in All
Although the property market seems to be leaning toward the first time buyers’ market, there are still plenty of reasons to stay optimistic. We are to expect a more balanced market with prices beginning to level out across the country. However, if you are looking to buy or sell in 2019 it looks as though you would be best placed to seek the advice of a professional an independent financial advisor.
If you want to check the current market value of your property, you can do so right NOW with our INSTANT property valuation tool.