A New Dawn for the Property Market

A New Dawn for the Property Market

A week into the New Year, all the signs are suggesting that the property market might be on track for a more promising selling season than previous predictions for this quarter suggested.

It comes as activity over the festive period proved surpisingly buoyant, with Rightmove recording 26% more properties coming to the market (over 10,000) on Boxing Day compared to the previous year. Visits to the site between 25th and 26th December were also 8% higher (and direct enquiries 17% up) than the same period in 2022.

This will no doubt come as welcome news to potential home-movers who, until now, might have been holding off taking action due to last year's affordability challenges and market uncertainty.

After the traditionally quiet home-moving period of December, some degree of bounce back is of course always expected, but this particular surge is not to be taken for granted, given the raft of relatively low expectations that it arrived on.

Speaking on this notably more active market, Geoff Tomlinson, Managing Director at Braxton Estate Agents, says that ‘falling mortgage rates and inflation are clearly encouraging more buyers to enter the market, and this is helping to bolster prices at a local level, with knock-on benefits for the number of new properties coming to the market.’

Braxton, whose property portfolio includes this newly-listed property in Longworth Drive. have already noted a considerable jump not just in viewing enquiries, but also valuation requests, as homebuyers and property owners concede the potential benefits of taking this long-overdue wave of market optimism at its flood.

For more details on the current property market or to book a no obligation valuation, please contact 01628 674234 or email property@braxtons.co.uk