WEEK 29 OF 2024 – Property Market Update
Lenders have been reducing mortgage rates since June. Ever so slightly but consistently. Supply and time to sell remains at a record high but sales are increasing as First Time Buyer activity picks up.
Main Highlights
NEW LISTINGS Year to Date = 1,027,235 (3044 in Bournemouth)
OFFERS ACCEPTED Year To Date = 555,378 (1666 in Bournemouth – 54% of YTD Listings)
AVERAGE 2 YEAR FIXED RATE MORTGAGE = 5.79%
AVERAGE 5 YEAR FIXED RATE MORTGAGE = 5.39%
NATIONWIDE IS THE FIRST LENDER TO OFFER A SUB 4% RATE (with a higher deposit)