In The Press… The Times

Our Founder, Jennie Hancock, is quoted in The Times today, as most of our clients are reducing their budgets by around 10-15% at the moment to take into consideration an increase in their mortgage repayments. As Jennie explains in the article, history tells us however, that when the current situation happens with mortgage rate increases and property price adjustments, it’s actually a good time to buy a house, because properties can usually be bought for under the asking price. Sellers are being more realistic on their sale price now to achieve a sale especially with a good buyer that can proceed, so even though buyers feel they need to reduce their budget, it is still possible to find a good quality house in a sought after village, as there is more negotiating power. We always hope for capital growth, especially in the Golden Villages of West Sussex such as Selham, Graffham, Lodsworth, Lickfold, Lurgashall, Singleton, Chilgrove, Marden and Hartings, as there is still a huge buzz in the local market due to the scarcity of good quality homes.

For example, we have just exchanged for a couple who sold in London and wanted to buy a family house in a Downland village. They reduced their budget by 10-15% due to the hike in mortgage rates, whilst also using funds from an inheritance to reduce the mortgage repayments.

Read the full article here (paywall).

For more information about how Property Acquisitions can help find you find a house in West Sussex, contact Jennie Hancock at info@propertyacquisitions.co.uk.