Unlocking Opportunities: A Promising Outlook for the Housing Market in 2024
With no rise in bank rates, a stable stock market, and prospects of lower mortgage rates, the New Year could be a positive one for the housing market.
The great news is that there have been no further rises in the Bank of England base rate for three consecutive months and further rises seem unlikely in the foreseeable future.
The stock market remains stable which is always a good sign for housing too. There are also signs the cost of living appears to be easing.
This will hopefully encourage Banks and Building Societies to compete for business with the hope lower mortgage rates will be available in the coming months.
The best time to sell is early in the New Year, giving you time to find a buyer with less competition and putting you in the best position to secure a new home as they come to the market.
The early bird catches the worm, as they say.
Finding a buyer and securing a property to buy early in 2024 will enable you to move before the summer and thus allows you more time to potentially test the market and obtain the ‘BEST PRICE’.
We have experienced increased activity levels with viewings in December showing confidence is beginning to return to the market, which is excellent news.
May I wish everyone my best wishes for a happy Christmas and a healthy and happy New Year.
Leonard Gray Estate Agents