This article was originally published in February 2025. Any figures or market commentary from that period are historical, not a statement of current asking prices or buyer demand. Whether buying or selling, compare recent local market evidence and assess your current affordability before making a decision.
Understand Market Trends
Housing market conditions can vary by location, property type and time. Compare recent asking prices with completed sales where available, and consider local supply, demand and how long similar properties have been advertised. Historical national headlines should not replace current local research.
Be Realistic as a Buyer
If you are a buyer, it’s important to recognise that asking prices are often flexible. With affordability constraints still shaping the market, sellers may be open to offers slightly below their asking price. Focus on properties within your budget and explore areas where prices are more competitive.
Present Your Home Strategically as a Seller
If you’re selling, ensure your property stands out. Presentation and an asking price informed by recent local evidence can help a property compete with similar homes. Ensure your home is decluttered and styled with appeal to a broad audience. Highlight key features and consider virtual tours to attract online buyers. Finally, set a realistic asking price based on market trends and be open to negotiation for the best outcome.
Focus on Affordability
Affordability remains a crucial factor in today’s housing market. Mortgage rates can fluctuate, directly impacting what buyers can afford. For buyers, discussing affordability with a qualified mortgage adviser and considering an agreement in principle can help clarify a possible borrowing budget, subject to lender checks. An agreement in principle is not a mortgage offer or guarantee. Sellers should also keep affordability in mind, as changing rates influence buyer behaviour and what they’re willing, or able, to pay.
Stay Informed and Flexible
The housing market is dynamic, so staying informed about trends and being flexible in your approach can give you an advantage.
Considering a purchase or remortgage? Contact TLA Finance to discuss mortgage options and affordability. Any recommendation or lending decision depends on your circumstances and the lender’s assessment.
