Prime holiday times like January can present opportunities for those looking to buy a house which can translate to lower prices and more flexible conditions for a better buy.
According to REBAA president Rich Harvey there are definitely ‘slower times’ in the market cycle such as prime holiday times when people are tied up with vacations and families.
Fewer buyers, mean less competition and the added benefit for buyers to ‘shop around’ for what suits them best.
“What you find at this time of year is that many people who have bought in December are more likely to be under pressure to sell in January,” said Harvey.
“With less people in the marketplace looking, there are more opportunities for astute buyers to get out there and pick up a bargain.
“It doesn’t mean the property will definitely sell for a ridiculously low price but it can certainly work to your advantage.”
Harvey said it was particularly important at this time for buyers to understand the market in order to buy at the right price.
“It makes sound financial sense to consult an expert when making what is for many people, the most costly investment decision they are ever likely to make,” he said.
“Buyer’s agents know the property market better than anyone.
“They have the ability to research the data and know what is the right value for the property and to determine what is a bargain and what isn’t.”