15 Oct Is now the right time to buy or sell? Property insights and market trends

It’s a question we get asked regularly as estate agents. And the truth is, when it comes to the right time to buy or sell property, timing is always key. After all, the property market is always evolving, and trends are changing. In this blog, we look at whether October is a good time to make your move and provide some much-needed property insights from our team to help you make an informed decision either way. 

Current market trends

Manchester continues to be one of the hottest property spots in the UK with buyers and investors drawn to its housing developments, employment opportunities and vibrant culture. Despite economic challenges over the past few years, property in Manchester is still in demand and house prices continue to grow steadily. Data from Zoopla even shows that prices have risen by around 8% over the past year – which is welcome news if you’re looking to sell.  

What’s more, Manchester’s rental market is also thriving. And we’re seeing rental demand often outstripping supply in many parts of the city – especially those close to universities. Across the city, rental yields remain high which means Manchester is attractive for buy to let investors. So, if you are considering selling your property, you may want to think about how lucrative it could be as a rental property in the long run.  

As with many places around the UK, one of the biggest challenges facing the property market in Manchester is that there is an ongoing shortage of housing. New developments are in abundance, but it seems they’re not being released quick enough to meet demand. This has unfortunately driven up house prices which might be bad news for buyers, but it does mean a seller’s market. Those who do put their home on the market right now are likely to receive competitive offers.

So, is now the right time?

If you’re able to sell, now is a favourable time. Why? Because house prices are continuing to rise, and high demand is outstripping supply. What’s more, with so many developments in the pipeline, if you do want to sell, acting now may mean you benefit before new homes hit the market. 

If you’re thinking of buying, just know that competition remains fierce in Manchester so it’s important that you’re ready to move quickly if the right property comes along. While the market does favour sellers right now, there are opportunities for buyers – you might just need to think on your feet and consider up and coming options.  

Whether you’re buying or selling, it’s essential that you stay informed and are ready to move quickly. That’s exactly where we come in, providing expert advice and market insights so that you can make the best decision for your property journey. So, whether you’re ready to take the next step or just want some advice before doing so, contact our team today and together we can navigate the current Manchester property market.