Why opportunity knocks for home buyers and sellers in Yorkshire

Last weekend in the Property Post, sixteen members of the Yorkshire residential propertycommunity gave their predictions for the next 12 months. The consensus view was 2024 islikely to be a year of consolidation coupled with growing confidence, aided by lower interestrates and increasingly competitive mortgage deals.Following such exulted opinions, the research team of a well-known international agent earlier this week revised their previous prediction for mainstream house prices in 2024 from an annual decline of four per cent to an increase of three per cent.

With other commentators now offering similar views, Rightmove already reporting a promising start to the year and a leading city economist believing it will be an “unusually uncertain year” maybe it is best to leave the world of macro-economics to others and focus instead on what you can personally control and influence in 2024.

Whilst Opportunity might have been the name given to a robotic rover that was active on Mars, from 2004 until 2018, for us mere mortals it is defined as “a time or set of circumstances that makes it possible to do something”.

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As such, creating opportunity is my mantra for 2024, both personally and professionally. In the latter respect, I am sure other agents will join me in wanting to sell those instructions that stubbornly remain on our books from last year.

Tim WaringTim Waring
Tim Waring

Some just need the right buyer to fall in love with the individuality offered, some are readily saleable but only at a revised price and others will never defeat the impact of a noisy road or equivalent.

As for new instructions, the same thinking will, of course, apply but with the added intrigue of managing the uncertainties of human nature, which often manifest themselves when individuals go through the buying and selling process, particularly in the early stages.

There will be opportunities galore in 2024. In fact, I can see a number of them on the horizon already. From impressive country houses being sold for the first time in generations, barns to convert in fabulous rural settings, cottages to modernise in picturesque villages to elegant town houses, appealing family homes in convenient suburban locations and stylish city centre apartments, the whole gambit of property types offered across Gods Own County cannot fail to impress.

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So, having identified the opportunities, the other key ingredient is confidence defined as “the feeling or belief that one can have faith in or rely on someone or something”.

It is becoming apparent this exists in abundance, as many have hoped and increasingly believe, but perhaps have been reluctant to openly state.

By way of endorsement, the UK chairman of PwC suggesting economic forecasters such as the Bank of England were being too gloomy. So despite the sleet, snow, wind and rain that has been prevalent this January, assuming you can see the opportunities and you have the confidence, maybe 2024 is the year to move.

Alternatively you stay put and see what happens. Before you do, consider looking up the definition of macro-economics. I did and there is nothing I can do about it. You may conclude the same.

Tim Waring, FRICS, Prime Residential, GSC Grays 01423 590500