July 24 - Property Market Update

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)