As is usually the case there is a big variation in the financial forecasts from the city. For 2024 the spread is as much as 10% !! The forecasts below are from The Times.
At Clarkes we keep one eye on national market trends but we're more concerned with the Bournemouth Christchurch & Poole District. London may only be an hour and 50 minutes away on the fast train but the London Property Market is a world away from ours. Right now we're more concerned with the Mortgage Markets. There is pent up demand from buyers here in BCP, there has been for years in fact, but crucially it's buyers ability to get affordable finance that drives our property market.
Clarkes Properties Limited are predicting that Lenders will continue to gamble on the Bank of England reducing base rates to 4% before the end of this year and that they will continue to release more competitive mortgage products throughout the year. As a direct result there will be an increasing take up of new mortgage deals and property purchases leading to a reduction in average property sale times by May or June. Clarkes believe this will then fuel a modest 1% price growth in the 2nd half of the year.
To speak to one of our property experts please call 01202 533377
https://www.clarkesproperties.co.uk/meet-the-team/ 