August is traditionally one of the slowest months when it comes to activity on the property market – but come the autumn things get moving again.
This year the whole of the business has been unstable and difficult to predict. But a buyers’ market always gives those looking to move a chance of some good offers.
And getting the market moving would be a major boost for the country’s economy.
So let’s look forward a few months with some good reasons to move house
First-time buyers often outgrow their ‘starter’ homes. Increased family size is the main reason home-owners say they need a larger home. People often want what they don’t have and long for a bigger, more expensive home.
The current job market is equally unstable, so that can make it necessary for many to pull up roots and move. If the commuting distance exceeds an hour, most people would prefer not to spend two hours in traffic every day.
Then there are relationships – moving in with a partner or getting married can mean one of the parties will need to sell, especially if both owned homes prior to the commitment. On the other hand, break-ups cause owners to sell as well.
Families are also a factor. The children have grown up and moved out. The owners want a smaller home. The older you get, the harder it is to keep a big house clean. Then, of course, people want to be closer to their family as they age and will move to be near relatives. Parents want to be near children. Grandparents near their children and grandchildren.
Some people don’t want to put on a new roof, replace the ceiling or buy a new boiler, so it’s easier to buy a newer home.
When you figure the life of most home systems is about 15 years, it could make sense to get out before everything gets too old.
But there are those who want to make a new start and will put homes on the market not to get funds to buy a new one – but to experience a whole change of lifestyle.
Money is always a factor, but maybe even more so during years when economic growth isn’t so good.
There are home-owners who can’t stand the fact their home is worth all that money because that money is not in their pocket. These people would prefer to stare at their savings than stare at four walls with empty pockets.
Others are simply tired of owning a home and would prefer to travel, pursue a hobby or be less responsible. So home-ownership loses its priority status and turns into the ticket for realising dreams.