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  • Neil Harrison

'Extend Now - Move Later' gains momentum due to home prices

Updated: Jun 6, 2023

Mint Builders notable ‘ Extend Now - Move Later’ initiative, launched a short while ago, and well to the fore this past Autumn, has moved even more firmly into focus, due to the surprise jump in house prices, in the face of recent talk of an expected interest rate rise.

The always well-informed HomeOwners Alliance has highlighted a continued house prices momentum.

They have recently reported that prices and transactions are up significantly over the past six weeks or more.

choice property shortages

They add that.. “Buyer demand has remained strong, despite the expiry of the stamp duty holiday at the end of September. Competition for a shortage of properties has been intense ….thus pushing up prices. The house price rises reported of late sit at around 12%.

cooling influence

The HOA add that looking further ahead, any rise in interest rates may exert a cooling influence on the market in 2022. The key thing is - will that happen?..... and by how much?

A further key question is - how long will it take for a longer lasting fall in house prices to emerge nationally? Our thoughts are with Winter now arriving nothing is 'on' for 12-14 weeks at the very least when Spring begins to emerge…

less favourable

With Covid rates still easing backwards and forwards and the vaccine ups and downs continuing, it seems, we are finding, that the Winter must surely prove to be a less and less favourable period for many in terms of planning a home move.

Extend Now - Move Later

Due to this, we feel, that extending and improving in readiness for an early Spring sale will thus be viewed as a strong option to achieve, in readiness for a sale and move later in the year. For sure Spring should bring about a better, less fraught home-selling environment and with the ‘bonus’ of the extra market value, built into a home by extension or renovation, more advantageous sales should emerge when the up and coming Covid winter turns into Spring

project opportunities

We at Mint expect extension and renovation project opportunities to continue to emerge through the later Winter and into the early Spring, as homeowners balance the rising costs of moving against backed by the added market value of their properties follwing a well-planned extension and/or renovation.

more stretched

Also, there is information we reported recently from leading Building Society, Nationwide, pinpointed online by the HomeOwners Alliance… “House prices have continued to rise more quickly than earnings in recent quarters, which means affordability is becoming more stretched. Recent price patterns suggest an element of rebalancing is occurring” …. presumably this could take a certain amount of time to 'get a telling hold'.

developing factors

Of course, there are still certain developing factors that will come into play reference our ‘Extend Now - Move Later’ initiative, but we at Mint are active with project extension opportunities, and we are finding that homeowners are very much 'tuning in' to our initiative and approach in the face of market prices currently.

understanding

Our message is it seems achieving an understanding that home improvement is a way to be best prepared financially to meet a later home sale challenge as and when Spring begins to ride into view in some 14 weeks or so.

anticipated

We are in discussion right now reference various extend and renovation projects looking into the very early Spring / Late winter quarter, in order to get certain homeowners equipped and presented as best we can, so they are indeed ready for that advantageous less-pressured selling opportunity not so far away in what will surely be a much anticipated Spring of 2022

We at Mint Builders are, of course, here to help locally with all kinds of questions and ideas relating to your new home extension or renovation as well as all priority planning and organisation of your later Winter project this year ….and on into the early Spring of 2022.

Feel free to request our project planning and quotation visit reference refurbishment or extension of your home for more energy saving ‘liveability’ and increased future sales value in these vaccination focused Covid crisis times. Contact Mint Builders on 07734 211958 or email mintbuilders@hotmail.co.uk

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