As your local property professionals, we make it our mission to keep you well-informed about how the market is changing both nationally and within the local area.
We are well and truly in the winter months and looking forward to the weather warming up in Spring. As we look back over the the passed few months, like the weather, the property market seems to be brightening up. 2023 was a challenging time for the property market but things are looking up and we are excited about what the next 12 months have in store.
To put the figures in, inflation is now at its lowest since November 2021 and the economy is starting to grow again with incomes and consumer confidence rising. Mortgage rates peaked at the end of last year and are starting to settle. They are not going to return to exceptionally low rates experienced in the past 5 years, but the storm is calming and rates are becoming manageable with lenders looking at the products they offer to make them more suitable for more buyers.
The market remains resilient with buyers feeling more settled although sellers still seem cautious. Pricing your home well within the market will still achieve a sale.
Overall, if you are looking to sell, provided your property is priced competitively and marketed well, there is no reason why you should not achieve a sale quickly. If you are looking to buy, there is a good choice of property out there and the market is running at a steady pace to allow you the time to browse homes that meet your search criteria and find the perfect home. Key points are to check in with a financial advisor to check affordability before going out to look at houses, get yourself organised in readiness for the solicitors, and register your details with us so we can keep you in the loop with properties as soon as they hit the market!
Get in touch with your local branch!
A further look into the current market conditions and forecasts for your local areas around Staffordshire, Shropshire and Cheshire can be found in the Market Reports below.
