Our Residential Department at Hancock and Partners is closely monitoring current market trends, and we are seeing conditions increasingly favouring those looking to move up the property ladder. First time buyers are purchasing their forever homes.
While downsizers tend to benefit in a rising market, today’s climate is proving particularly advantageous for upsizers. With prices at the top end of the market stabilising and buyer competition easing, upsizers especially those in a strong financial position and ready to proceed are finding themselves in a stronger negotiating position than in recent years.
A 10% discount on a larger, more expensive property equates to a greater monetary saving than the same discount on a smaller home being sold. Therefore, the maths is giving upsizers a clear strategic advantage in the current environment.
We are also experiencing at the moment :-
- Approximately 30% more stock available compared to this time last year
- Sellers who are increasingly realistic and open to negotiation.
- A market with low competition, giving buyers more choice and time.
That said, while prices may still edge down slightly, the best opportunities often come just before the market hits bottom. Waiting too long risks missing the window before momentum shifts back in favour of sellers.
If you are considering upsizing, now could be the ideal time to take action. The Residential team at Hancock and Partners is here to guide you through the process and help you make the most of current market conditions.