Why Now Could Be the Best Time to Buy a Home in Worcester, Malvern, or Droitwich – Matt Nicol Explains
If you’ve been thinking about buying a property in Worcester, Malvern, or Droitwich, now could be the perfect time to make your move – even if the headlines suggest otherwise.
Matt Nicol, Managing Director of Nicol & Co Estate Agents, shares his latest insight into the local property market. With offices in Worcester, Droitwich, and Malvern, Nicol & Co sits at the heart of Worcestershire’s property scene, giving Matt and his team a clear view of what’s really happening right now.
You might have noticed that the market feels a little quieter than expected this autumn. Traditionally, September brings a post-summer boost as children return to school and people refocus on moving. But this year, that “whoosh” of activity hasn’t arrived and there’s a clear reason why.
Waiting for the Autumn Statement
At the time of writing this (early October), the Autumn Statement isn’t due until 26 November. That gap has created a pause in the market, as buyers wait to see what the government might announce.
A True Buyer’s Market
Right now, it’s a buyer’s market. There are more homes available, viewing numbers are lower, and buyers are facing far less competition than we’ve seen in recent months.
That means when you find a property you love, you’re less likely to be in a “best and final” bidding war. Instead of competing against three or four other buyers, you might have a clear run at negotiating a deal that works for you.
This window won’t last long, probably around seven weeks until the Autumn Statement which is why we are encouraging serious buyers not to wait.
Why Delaying Could Cost You
Whatever happens in the Autumn Statement will happen regardless. If you delay your search until after November, you could find that confidence returns and buyers flood back into the market.
There’s also the Bank of England base rate, currently at 4%, which may fall again before the end of the year. If it dips to 3.75% or lower, that’ll make borrowing cheaper and more buyers will re-enter the market.
In other words, right now you have less competition. Wait, and that advantage could disappear.
A Word for Sellers
If you’re selling, whether with Nicol & Co or another agent, it’s worth being open-minded about offers.
At the moment, it’s sellers competing for buyers, not buyers competing for homes. That means pricing, presentation, and flexibility all matter. If your goal is to move to your next home, it might make sense to accept a realistic offer and use that position to negotiate on your onward purchase.
Especially if you’re upsizing, the gap between properties might actually work in your favour in this market.
Smoother Transactions
Another positive shift is that conveyancers and solicitors are less stretched. With fewer sales in progress, they can focus more attention on individual transactions, meaning smoother communication and faster progress.
While completing before Christmas might still be ambitious, sales are moving more efficiently than they were during the peak of the market.
Mortgage Rates and Flexibility
One question I often get asked is, “What if rates drop after I’ve applied?” The good news is that many lenders allow you to switch to a better product before exchange of contracts.
So locking in a property now doesn’t mean you’ll miss out if rates improve in the next few weeks. Speak to your mortgage broker or advisor about your options.
The Bottom Line
This is what I’d call a sweet spot in the market — and it may only last until late November. For buyers, there’s more choice, less competition, and motivated sellers. For sellers, it’s a chance to make your move before the market gets busier again.
If you’re thinking about buying, selling, or investing in Worcester, Malvern, or Droitwich, don’t wait until everyone else catches on.
Get in touch with the Nicol & Co team:
- Worcester: 01905 676000
- Droitwich: 01905 799072
- Malvern: 01684 201320
Or visit nicolandco.co.uk to start your next move.
