The property market is starting to show signs of life after a tough winter. In May, house prices rose by 0.4%, after a flat performance in April. Mortgage applications also increased, as buyers and sellers become more confident about the future.
There are a few reasons for this recovery. First, the vaccine rollout is continuing to progress, which is giving people more confidence about the future. Second, the economy is starting to reopen, which is creating more jobs and opportunities. And third, low mortgage rates are making it more affordable for people to buy a home.
Of course, there are still some challenges ahead. The pandemic is not over yet, and the economy is still recovering. But the early signs are positive, and it looks like the property market is on the mend.
So if you're thinking about buying or selling a home, now might be a good time to get started. The market is starting to move, and there are still some great deals to be had.
Here are some tips for buyers and sellers in the current market:
Buyers: Be prepared to act quickly. The market is starting to move, and homes are selling fast.
Sellers: Price your home competitively. Buyers are looking for good deals, so don't overprice your home.
Both buyers and sellers: Get pre-approved for a mortgage before you start shopping. This will show sellers that you're serious about buying a home.
The property market is always changing, so it's important to stay up-to-date on the latest trends. I'll continue to monitor the market closely and provide updates as more information becomes available.
In the meantime, I wish you all the best in your home buying or selling journey!
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