Unsure homeowners may be unsure of whether it's advisable to sell their house in 2010.
Firstly, happy New Year from all of us here at quotes4removals. We hope you had a very enjoyable festive season and haven't given up on your resolutions just yet!
For those of you looking to move this year, you're probably wondering about what's just around the corner as you make your preparations and get your house ready to go on the market. After all, the past two years have been unstable due to the economic downturn and the problems that recession has brought on.
We understand this concern; it's only natural when you're selling your house! That's why we've put together some guidelines to help you move house safely and securely in 2010. Read on to find out more.
Whilst the outlook for the market is not particularly optimistic, the news is not all bad. In the latter months of 2009 house prices and sales have been on the rise, which was not predicted earlier in the year. House prices may continue to rise as 2010 progresses. As of today, experts predict the UK economy will stop shrinking soon, which could be a good sign for the house market as a whole.
Yet because of the uncertainty, expert opinions should not be considered fact - there are many things you can take into account that may help predict how the market is going to develop.
Employment rates - an increase in employment rates may precede a rise in property prices as workers attempt to increase life stability. However, public sector unemployment may rise as the government tries to increase tax take and decrease the spiralling budget deficit.
Interest rates - as interest rates increase peoples' savings will go further, giving them more choice when it comes to moving house
Supply and demand - both are expected to rise in 2010, giving your house more chance of finding a potential buyer
Low deposit requirements - low deposit requirements may increase the pool of people able to purchase properties
The looming general election means the political parties will be battling it out before hand attempting to win voters and dominate opinion polls. The election must take place before June 3rd 2010, and after this date you can expect some new policies that affect housing and moving to enter legislation. In particular if the Conservatives win the election HIPs are likely to be abolished; due to the time these types of changes will take some homeowners are expected to steer clear of the market until the changes have been implemented successfully.
In the past couple of years the mortgage market has experienced turmoil but has since gained relative stability. However it is scheduled for significant change to protect against the type of credit crisis that has hit the UK in the past two years. Stronger rules and regulations are to be introduced - some regarding self-certification - that may make it harder for home buyers to receive mortgages. This may make it harder for homeowners to sell quickly.
Good luck selling your house and moving in 2010. If you're looking for ways to save money, consider using our dedicated service to get bespoke quotes for removals based on the volume of your possessions, so you never pay a penny more than you need to.