Homebuyers choosing smaller properties.
Homebuyers are being forced into considering smaller properties and much longer mortgages according to the latest report from the BBC.
As budgets are being squeezed ever tighter, they’re having to find more creative ways to afford their dream home. This includes longer, 35-year mortgages but buyers are also having to downgrade their expectations in terms of property sizes to be able to afford the monthly mortgage repayments. This is all despite the fact that property prices are 5% less than they were this time last year.
It doesn’t look like things are going to change any time soon either, as higher interest rates are expected to remain for the foreseeable future, putting households under pressure for some time to come.
The governments own figures appear to back this up, showing that house sales in August were at their lowest point for at least ten years, not withstanding the global pandemic which put so many peoples lives on hold in 2020. So after a bumper couple of years post Covid, estate agents are starting to feel the effects of fewer sales at lower prices translating into lower turnover.
Now is as important a time as any for estate agents to find that extra edge over the competition. A fully manned webchat facility is one way in which estate agents can engage with their website visitors. Our staff not only answer chats on your behalf, but can manage appointments as well, saving you valuable time.
Contact us today to find out more about how Live Web Chat can help you convert website visitors into paying clients. You can find out more about what we offer on our website, or by calling us on 01273 741113.