How can Cash House Buying Agencies thrive in 2022?
Like many other industries in the world, the UK property market is constantly evolving. Industry players therefore need to keep a keen eye on the key markers that define the state of the industry. As 2022 ushers in new changes and realities, industry players like cash house buying agencies need to arm themselves with current knowledge and strategies in order to remain relevant and profitable.
The Northern Drift
The North has been attracting people who yearn for the peace and tranquility of the countryside as many Northern areas offer a perfect mix of rural appeal with urban amenities. As a result, many home owners are looking to sell their homes in the South and make the transition to their desired properties up North. This presents a unique opportunity for cash house buying agencies. Many of the homeowners who are looking to sell will appreciate the quick sale processes facilitated by these agencies.
A Fleeting Opportunity
Property experts have noted that since April 2022, house price growth in the UK has returned to double digits. According to the recent house price index from the Land Registry, there was a 12.4% increase in the period leading up to April 2022. The previous figure was 9.7% monthly. This growth presents a golden opportunity for those who buy houses with the intention to sell at a profit. But this lucrative situation will not remain so for long. Consequently, cash house buying agencies need to act swiftly and decisively in order to capitalize on this lucrative but fleeting opportunity.
How to Capitalize on the Opportunity
So what exactly should cash house buying agencies be doing to grasp this opportunity while it lasts? Well, one of the key things to do is turn their attention to those areas that people are moving from to capitalize on those quick sale demands. But this should be done strategically. To secure the best returns, it is best to focus on those areas that show signs of regeneration or areas that seem likely to be desirable for future buyers. Among these will be those that are located close to major cities or have convenient access roads. Areas that have the desirable amenities such as shopping centres and entertainment options are also ideal.
This is the time for swift, strategic and decisive action. Cash house buying agencies that are able to successfully capitalize on this unique opportunity will undoubtedly see the benefits in the long run.