BOURNEMOUTH CHRISTCHURCH & POOLE - Property Market Update Oct 2024
This is the most up-to-date data for our local Property Market.
HIGHLIGHTS
FOR SELLERS
- Supply begins to reduce
- More First Time Buyers are coming into the market
- Strong activity in Flats
- The recovery has started (from the Bottom Up)
FOR BUYERS
- Bank Base Rates and Mortgage Rates are set to reduce further
- Property Prices are set to rise
- Buyers pay more in Stamp Duty from April 25
Sales in September and October remain stable but would have been higher had it not been for the negative press leading up to the Budget causing many to wait and see. The outlook is very optimistic however with more first time buyers coming to our market every week and a big upturn in activity in flat sales. This along with further mortgage rate reductions coming soon and a seasonal reduction in supply will fuel further activity in the market triggering more 2nd and 3rd time buys and a gradual increase in prices.
Although the budget may unsettle some investors it will actually add some further short term impetus for owner occupiers to complete their purchase before the Stamp Duty threshold is lowered in April 25.
To speak to one of our Property Experts please call 01202 533377 or e-mail enquiries@clarkesproperties.co.uk