With Autumn starting in just a week’s time, we thought it would be a great time to update our clients on the current market, as well as the trends we are seeing throughout the property industry.
One of the biggest (and understandable) questions we’ve been faced with as Estate and Letting Agents is how the cost of living crisis is affecting the regional property market. In short, rises in the cost of living and global economic uncertainty are causing some potential vendors to hesitate, which is resulting in less stock on the market.
In reality, a combination of economic and lifestyle factors has caused a huge demand for property in this region so now is actually a great time to sell with Moore’s Estate Agents. For example, an estimated third of workers in London and the Southeast are now working predominantly from home so no longer need to travel daily into central London. Traditional ‘weighted’ salaries are being phased out for many as a result. Strained economic circumstances have caused a re-evaluation of what is affordable, and we are seeing buyers opting to head further North to seek out alternative locations.
Naturally, buyers find our locations of Oakham, Melton Mowbray, Uppingham, Grantham, Stamford and the surrounding areas hugely appealing with its superb education and lifestyle opportunities, poll topping towns and character properties. We have also observed a notable shift in families now favouring day school options over boarding – perhaps because Uppingham School, like Oakham School, are now offering a day school alternative.
Here at Moore’s Estate Agents, we are experiencing consistent demand for property since priorities have altered for so many. For example, clients are now wanting more space within their property for a home office, bigger gardens etc.
Moore’s Estate Agents
We pride ourselves on being a family-run business who provide excellent customer service to all of our clients, as well as unbeatable knowledge of the East Midlands area. If you’d like some more advice on the current market, or are interested in selling your property with us, get in touch today where a member of our team will be in contact shortly.