UK Housing Market Second Steppers Have Much to be Optimistic About
Many factors regarding the UK housing market are looking up for second steppers. According to the latest data, the rise in average house price combined with many first timers looking to purchase a property is giving second steppers optimism about their next move. Negative equity is not such a daunting cloud as it was a few years ago, and that is making the possibility of moving home more of a reality for many second steppers.
The positives far outweigh the negatives, but the eager groups still faces a major price gap to reach the next step on the ladder. According to recent figures, the challenge of a £130,000 gap stands in the way of many to reach the next step in the process.
Recent research also outlines the confidence level of second steppers in being able to easily reach the next level and sell their house this year. Almost 35% of the group polled thinks it will be less challenging to sell this year. Almost 40% are planning to move now compared with later in order to take advantage of such a promising market.
Time has certainly helped the plight of second steppers as well. Five years ago, looking ahead meant stress and unpredictability, with few optimistic thoughts. Now, the horizon is much brighter with opportunities and a renewed confidence overall in the housing market.
First time buyers are an essential group to the UK housing market. But, second steppers are the buyers who truly keep the market from becoming stagnant and idle. If second steppers get stuck moving home it becomes obvious to the rest of the market in literally seconds.
Remortgages are also becoming more and more popular for second steppers. A remortgage can open doors which were previously thought to be closed and not easily cracked. It can free up cash and make it possible for home renovations, paying off debt, or much deserved vacations. Remortgages are now available online at any time.