Q. I was planning on putting my property up for sale this month, but with everything that’s going on in the current financial climate I’m wondering whether this is a good time to do so?
A. I certainly understand your concern; the uncertainty in the property market is played out daily in the news and continuing to make front page headlines in most of the daily newspapers right now. However if you are planning on moving home – i.e., selling your current property in order to buy another, like the majority of vendors – then the simple fact of the matter is that there is never anything gained by waiting as you are exchanging bricks for bricks. So although you are likely to sell for less you are also guaranteed to buy for less too. The fact is that the housing market has its busier times, its quieter times and its times of upheaval, that unfortunately is the nature of all markets. Waiting a while for the market to correct itself could of course result in selling at a higher price but then of course you will also pay more on the purchase, so you are unlikely to have gained anything at all by waiting.