Should I invest in property in 2023?

Back to news

Should I invest in property in 2023?

Short answer – yes!

As a result of the recent macroeconomic conditions – a persistent 5%+ base rate, the days of ultra-low interest rates and cheaper mortgages a distant memory, research has shown that one third of UK landlords plan to sell rental properties given the drop in landlord confidence.

Despite news headlines painting a pretty dire picture of the property market, don’t take their word as gospel and do your own research. Granted, there are a lot of factors to consider but do not let them stop you from entering the world of property investment because this year could be the best time that you could start building a property portfolio or simply getting yourself onto the property ladder.

If we turn the negative news on it’s head and look at it from a different angle – it’s a buyer’s market. The exit of a lot of landlords from the property market opens up multiple opportunities for investors but you need to be smart about how you go about investing in quality homes. If you are a serious investor and favour long-term strategy to gain high returns, 2023 is absolutely the best time for you to invest in UK property. For savvy investors, the current market conditions can be described as opportunistic. The shortage of rental stock and a slowing economy can result in a higher rate of bargain offer acceptances. This is because sellers value time over price, especially when they are cautious of a pending housing market crash and place a quick sale at the top of their priority list.

If you are a serious buyer and intent on getting your foot on the property ladder and not looking to invest in multiple properties, the same benefits apply to you too. The reality is that the number of new properties for sale is leaning in your favour, more so than sellers because of the impact of higher mortgage rates a lot of buyers are being forced out of the current market so when putting an offer in your number of competition will likely be lower than you realise.

Another positive noticeable trend we’ve seen is that the first-time buyer market has remained robust throughout the turbulence of the market- their buying behaviour has adapted to seek smaller properties than previous to still achieve the bigger goal of getting on the property ladder. Population continues to grow and the demand for housing does too, people’s behaviour and habits are adapting not disappearing. Provided you are able to find a reputable and experienced estate agent that can advise you on elements such as this, in the local market you are seeking to invest in, your property journey will continue and should move forward seamlessly.

At Sims Williams, we truly believe that investment in property is always profitable and worthwhile but it heavily depends on what your investment goals and circumstances are to determine what it is that you subsequently look for in property.

It is important to remember that the current property market is not a bad market and the landscape will change again as part of the cycle. Investing in property has always been a significant commitment, regardless of macroeconomics. The only difference right now is that it’s more crucial to price correctly in order to achieve a sale within a reasonable timescale. Did you know that the average sale takes 20 weeks? Click here to find out how Sims Williams can help get you ready to move and speed up the sale process.

With over 300 years’ experience between us, we are uniquely placed to advise you on every aspect of the property market between Chichester, Bognor-Regis, Arundel and Walberton, particular in these changing times.

Rest assured, the local markets are still buzzing with activity, we would love to hear from you and get you moving into your next home in West Sussex.

Be kept up to date

Leave your details with us, so we can keep you fully up to date with property updates.

What our clients say

Professional & Highly Recommended

We have been with Sims Williams for many years and are very happy with their service. They managed our rented properties and letting them when required. The property & letting managers; David, Jo, Nicola and Sheila were excellent. They are professional, good communication, good listener, attentive follow up and provide solutions should there be a problem. We highly recommend them to any potential Landlord. Thank you for looking after us and our tenants.
Gee & Keith - Landlord - Jul 17th, 2023

The Long and Winding Road

It was a long 18 month slog! Sims Williams stood by us all the way. Updates and constantly in touch every week. A special mention to John Wyatt, couldn’t have done it without him. Thank you !!
Pete & Karen - Vendors - May 10th, 2021

Professional Service

We have used Sims Williams on four occasions and have found their services excellent on each occasion. Buying and selling never an easy ride and when problems have arisen Sims have been very efficient at dealing with them. Would highly recommend them.
Valerie - Vendor - Jul 12th, 2021

Brilliant, helpful and friendly!

Being a first time landlord, David at Sims Williams has been brilliant. Answering my 100's of questions and advising on what I needed to complete to rent my house. I've spoken to some of the ladies in the offices too (sorry I can't remember names) but have all been so lovely and helpful. If you are looking to rent your property then don't hesitate to speak to Sims Williams, and I assume if you are looking to rent, you should do the same! Thank you all so much!
Claire - Landlord - Jul 29th, 2023

Outstanding Service!

We recently purchased a property through Sims Willams, throughout the process, Megan and the team were friendly, accommodating and proactive which made the experience of buying our first property a joy. We are really happy in our new home and would highly recommend them!
Mr Cooper - Purchaser - Oct 14th, 2022

Fantastic service!

Branch Manager Jo was absolutely brilliant; Helpful, thorough, professional, and friendly. The process was quick and I was kept up to date on the process. Everyone at the Chichester and Walberton office who were involved in the letting were so kind and I can't thank you all enough. 5 star customer service. Highly recommend sims Williams.
Mia - Tenant - Mar 8th, 2023

Excellent Service

Excellent and courteous service from everyone we spoke to regarding our search for a suitable rental property to finally securing the right place for us.
Valerie - Tenant - Jun 29th, 2021

BUYING A PROPERTY IN YAPTON

Sims Williams were amazing as Estate Agents and kept us informed all along the way. Very good people, who we can't recommend highly enough.
David F - Buyer - Jan 26th, 2021

My new home purchase

Annabel and Mel are absolute stars , I really can't praise them enough ! Top Ladies who were a massive help in my new home purchase . A big thanks to both ladies !!
Lee - Buyer - Mar 20th, 2023

Excellent

I have recently rented my property through Sims Williams and I was impressed from day one. They were professional, kept me updated throughout the process and took away the stress!!
Lindsay - Landlord - Dec 1st, 2021