Typically the cold Winter months brings a cooler housing market.
This Winter we are feeling some Heat in the Market.
We at Clarkes are receiving higher levels of buyer enquiries that we have seen for several months.
Why?
Buyer Confidence is on the rise!
There are signs that the Bank of England Base Rate has peaked, however, Base Rate cuts are not imminent. The rates are likely to remain elevated during 2024.
Though mortgage rates are still high compared to recent historically low levels, the mortgage market is much calmer. Those buyers who had to pause their home-moving plans during the last year may decide the start of this year is the right time to return, now that they can better plan for what they can afford.
For Sellers;
Rightmove's property expert, Tim Bannister, has said
“New sellers will need to compete with their cut-price neighbours, and work with their estate agent to start with a competitive price, rather than starting too high and needing to reduce later. Our research shows that pricing right at the outset maximises the initial impact among local buyers and gives new sellers a much greater likelihood of a successful sale.”
Our property professionals have built a stellar reputation over many years due to their honest advice and exceptional level of service to both buyers and sellers alike.
Considering moving in 2024?