Online searches for a new home traditionally spikes on this festive occasion and more and more people are using online estate agents to kickstart the selling process today, on December 26.
Some people who decide to put their homes on the market are inspired by a desire to reset their finances after Christmas.
People also look forward to change in the New Year and look at property listings while enjoying some downtime over the holiday period.
The traditional rush to put homes on the market will likely be boosted this time by changes to Stamp Duty made by the Government in the budget.
There is often a rush to put homes on the market after Christmas
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First-time buyers will be motivated, as Stamp Duty relief for them will be reduced from the current threshold of £425,000 to £300,000.
There will also be a two per cent charge on properties priced between £125,001 and £250,000, and a small increase in Stamp Duty payable on all properties.
Some 10,000 properties went live last year, which was the highest number in one day since 2011 and I think the figure will be even higher this year.
Prices haven’t increased by very much, incomes are growing, and rents have continued to go up and are likely to continue doing so, meaning that buying has often become a cheaper option.
This is prompting many younger buyers to look, fearing they may otherwise miss the boat. If looking to buy, there are 10 things to look out for.
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An expert listed what you should look out for when buying a house
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Top tips when looking to buy a house
Neighbours – ask about them, and look at the neighbouring homes to ensure they are well kept.
Cracking – are walls inside cracked? Anything more than a hairline fracture could indicate an issue.
Water – ask to turn on a tap to ensure the water pressure is adequate.
Floors – are the floors springy? It could indicate rotten timbers.
Odour – any smell of dampness or mould? Are there dehumidifiers inside? Not a good sign.
Manholes – do manhole covers look like they have been lifted recently? That can indicate drain trouble.
Security – do security measures appear to be excessive? It could indicate problems locally.
Power – we now have so many devices – check if the number of plug sockets are adequate.
Re-visit – visit the house a second time, at a different time of day, and pop back to the street at the weekend, rush hour, after school hours and evening – areas can change.
Loft – try to check the loft. Some are like cathedrals and some are tiny and useless, it’s hard to tell externally.
Jonathan Rolande is a property expert from the National Association of Property Buyers
