Should you buy a home in 2023? Buyers could get a 'better deal' for their 'ideal' property

3. A less competitive market

Taking the plunge and buying in 2023 means you can capitalise on a less competitive market, with fewer people buying.

Less competition generally makes transactions a lot smoother, with less chance of bidding wars or being gazumped.

4. Mortgage rates are settling down

A big consideration when looking to move house or buy a property is mortgage rates. Higher mortgage rates often put potential buyers off from buying, resulting in them waiting for rates to settle down.

According to the expert, mortgage rates have already started to settle down. James said: “Even if the Bank of England (BoE) increases rates further, as expected, this has already been factored into mortgage rates.