Is one of your New Year's resolutions to move house in 2023? If so, starting to look for your dream home or apartment in January isn't a bad idea.
And, even if you’re not actively thinking about moving, the January Blues can have a marked effect on people. To the extent that you may indeed see a new house as the fresh start you’ve been looking for. Indeed, the quiet and lull of the first few weeks of January prompt many people to start house hunting.
So, if you start viewing properties, don’t be surprised to find you’re not the only one. In fact, some people start even earlier.
@OMA_Mortgages: “While December is typically a slow month for house sales, Boxing Day is the most popular day of the entire year for browsing properties online. Last year saw more than 40 million properties viewed online the day after Christmas.”
Sellers start listing a property in January
Spring may be the most popular time to move home, but the hunt begins in January. And it’s a good time to start because that’s when many sellers get organised for the year ahead and start listing their property. You’ll want to get in quick before some great properties get snapped up before you have the opportunity to look at them.
Better bargains to be had in January
If a property has been on the market for a while – a possibility right now after the fall-out of the September mini-budget slowed property transactions almost to a halt - buyers may be keen to sell. January can be a good time to bargain with a seller as they will be keen on a fresh start as much as you, meaning they may be more open to negotiation. Certainly, the longer a property has been on the market, the more bargaining power you have as a buyer.
Mortgage interest rates expected to rise further
It’s also not a bad idea to clinch your new home before mortgage rates increase even further. That way, you can tie yourself into a fixed-rate deal at a lower rate than it will be by the end of the year. According to economists, the Bank of England base rate, which is currently sitting at 3.5%, is expected to rise further in the coming months to bring down inflation. And that means mortgage interest rates will inevitably rise as a result.
Get in touch
If you’re looking to move to a new home in January, then take a look at the many listings we have in both Norfolk and Suffolk. We have offices – and properties to sell – throughout East Anglia.
And, if you’d rather sell first then spend time looking for your dream home, then we have a good choice of rental accommodation for you to move into in the meantime. Tel 01603 859343 for Sales and 0330 0535950 for Lettings. You can also write to us via the Contact Us page on our website.