Property market summer update

Increasing Buyer Demand Post-Election
Despite political and economic uncertainties, we are now witnessing increased buyer demand. This surge is primarily due to the reduction of the base rate by the Bank of England, which has led to lower mortgage lending rates. The current lending rates, combined with more realistic house prices compared to the immediate post-lockdown levels, have made purchasing more affordable for many.
For those aiming to move upmarket, financing the difference between sale and purchase prices is now more achievable. Additionally, first-time buyers are increasingly encouraged by the prevailing interest rates, fixed-rate mortgages, and attractive loan-to-value products. For many, stepping onto the property ladder now presents a more appealing option than continuing to rent.

Realistic Pricing is Key
Whether you’re entering the market for the first time or coordinating a sale and purchase, realistic pricing remains vital in attracting motivated buyers. Adjusting expectations and setting competitive prices can make all the difference in ensuring a swift and successful transaction.

Timing Your Move
With families returning from their summer holidays and children heading back to school, now is an ideal time for those considering a move before the end of the year to begin the process. By taking prompt action, you’re more likely to achieve your move in time for festive celebrations and before the year’s end.

A Word from Our Managing Director

“If you’re thinking of selling or buying in the coming weeks, we’re here to help. Our team is ready to provide advice, guidance, and free valuations to ensure a smooth and successful transaction."

Stephen Tetlow, Managing Director of Residential & New Homes

Get in Touch
If you’re contemplating a move, now is the time to act. Please feel free to get in touch with your local branch for personalised advice and support. Let’s make your property goals a reality!