The UK housing market has kicked off 2025 with great momentum, signaling a promising year ahead for both buyers and sellers.
Data from Rightmove and Sowerbys highlights a surge in buyer demand and mortgage applications, making this an opportune moment to make your next move.
New Homes Market: A Strong Start
If you're considering a brand-new home, you're in luck! The new-build sector is experiencing a wave of increased buyer interest:
Rightmove said buyer enquiries are up by 9% compared to last year and sales agreed since Boxing Day have jumped by 11%.
The property portal added that mortgage applications have had their strongest start to the year.
With mortgage rates remaining steady, developers are seizing the moment to connect with motivated buyers. If you're in the market for a new home, acting now could secure you the best deals before competition peaks.
Resale Homes: A Booming Market
For those selling their homes, the current climate is also favourable.
Rightmove said a record number of sellers have listed properties since Boxing Day, offering buyers the widest selection since 2015.
The number of mortgage agreements in principle has reached an all-time high, reflecting strong buyer intent.
At Sowerbys, we've seen our highest enquiry levels in over 30 weeks.
Now is the time to capitalise on strong buyer demand and get your home on the market!
Why Act Now?
The market is active, but key factors could impact affordability in the coming months, so act now!
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Interest Rate Uncertainty: While rates are currently stable, future changes could affect affordability.
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Stamp Duty Deadline: The upcoming March 31st deadline may prompt a rush of activity, making early decisions crucial for both buyers and sellers.
What’s Next?
If you're a buyer, now is the time to register with us and start viewing properties before competition intensifies.
If you're a seller, getting a valuation and listing your home early could help you capitalise on peak demand and maximize your sale price.
Whether you're buying or selling, the Norfolk property market is moving - don't miss your chance to make 2025 the year you move forward!
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Want to know more about the market? Pop into a local branch or call our team today.
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