How to Sell Your Home in 2012
Graham Norwood, one of the leading property writers in the UK who contributes to the Telegraph, the FT and Daily Mail give us his view.
Most housing forecasts for 2012 look at extremes ranging from young first time buyers unable to raise deposits and so apparently doomed to eternal renting, to ϋber-wealthy foreign purchasers queuing up for luxury central London homes with huge price tags.
50-somethings are the ‘new movers’
But it is not these two polar opposites who will be driving housing activity this year. It is instead the middle market – chiefly consisting, ironically, of the middle class and middle aged, more often than not, living in Middle England.
These 50-somethings are the ‘new movers’. Although they do not make headlines they do keep the housing market afloat in unusual and straitened times.
Sitting on housing equity built up over 10, 20 or 30 years of home ownership, they do not require large mortgages and can afford hefty stamp duty and legal fees. It is this group who are the down-sizers, moving home when their children head to university.
They are the people buying holiday homes, too, as they get on with their lives even during a downturn. And these 50-somethings will also be selling the properties they inherit – the first generation to enjoy high degrees of housing wealth left to them by their parents.
In a housing market often defined by dramatic headlines it is worth remembering that there are still deals being done, property being sold and dream homes being bought.
And most of the time, someone with grey hair will be involved.
Graham Norwood is a leading UK contributor to The Telegraph, Financial Times and The Daily Mail.
Posted on the 30th January, 2012
