With the end of the year almost in sight, people would be forgiven for focusing on Christmas. This November, however, felt very different. A 0.25% cut to the Bank of England base rate at the start of the month set a positive tone.
What are your take-aways from the Autumn Budget? The fuel duty freeze or cheaper draught beer from the pub? Mentioned in the address were a few property-related items. If you own a home, the announcement concerning inheritance tax should be of interest.
As the season’s change, so do attitudes to moving home. We noted a positive shift in September, with more movers getting in touch. We’re happy to say the industry’s leading metrics also reflected this air of optimism.
May is traditionally a busy time for agents. The two Bank Holidays and warmer weather always encourages people to book valuations and viewings. This month there are other factors at play, as we discuss in our latest property market report.
A quarter of 2024 has already passed and we are entering into peak selling season. Between now and the end of the academic year there is still time to put your property up for sale, exchange contracts and perhaps even complete. Here’s the current mood of the moving market.
Spring traditionally sees a peak in property interest and there are signs that this is definitely the season to move home. Many of the metrics we monitor are on the up, starting with asking prices. The figures show confidence among sellers continues to build.
Although it sounds like a tenuous connection, the property market and the weather are linked. The arrival of early summer has coincided with the traditional uptick in house prices. This May, Rightmove has noted an extraordinary correlation between warmer temperatures and property values.
With a third of the year complete, it’s a good time to appraise the property market. If your primary concern is the direction of house prices, Rightmove can shed light. It found the average house price in Great Britain had climbed 0.2% in April to £366,247.
