The UK housing market has always been vital to the wider economy of the UK and the last few years has seen UK property prices remain surprisingly resilient despite Covid, rising inflation & the cost of living etc
So, what does 2025 have in store for the housing market and is now a good time to sell? This blog will give you an incite into what is happening in the local area.
Property Price Predictions:
After years of rapid price increases, particularly in the wake of the pandemic, house price growth is expected to slow this coming year, but according to many experts and mortgage lenders, prices are NOT expected to drop! Instead, a more modest, single-digit house price growth is likely. Prospective buyers should expect a more stable property market this year with good supply and from what our offices have experienced thus far, strong demand also.
Impact of interest rates on mortgages
Interest rates always affect the housing market in the UK. The Bank of England has raised rates multiple times in recent years in an effort to curb inflation, which over the last couple of years has led to higher mortgage rates, putting pressure on affordability. However, more recently, inflation appears to have become more controlled and we have already seen the Bank Of England start to reduce interest rates slightly and this trend looks likely to continue for the year ahead.
Is Now A Good Time To Move?
In conclusion, 2025 appears to look positive for the property market; Stable, slow price increases, good supply of property to the market and interest rates that, according to many experts look likely to be on a downward trajectory.
With this in mind, our advice is that if you are looking to move and can afford to do so, go for it!
We would love to help you plan your move. Why not contact your loacl branch for some FREE, NO OBLIGATION ADVICE
Until next time!
Paul Dobbs
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