Market Reports

Politics, especially the period before an election, can be hard to keep tabs on. With a new Labour Government assembled, our job is to make sense of what was contained in the party’s manifesto, what was verbally discussed by then shadow ministers and what will actually be delivered now Sir Keir Starmer is Prime Minister.

With high summer in full swing, the property market has entered into its usual seasonal phase. Less fevered activity has been replaced by a more measured approach to home moving. This is widely attributed to holidays, the build-up to a General Election and even the European Football Championships.

May has been an interesting month for the property market. There’s speculation on how a General Election may affect movers’ intentions in England. In Scotland, there’s rumour of an urgent review of The Housing (Scotland) Bill.

One thing that fills the property market with optimism is better weather. It’s a weird correlation but we see an uptick in activity when conditions are more clement. While it’s not full-on summer just yet, spring conditions have woken home movers from their winter slumber.

We’re already a quarter of the way through 2024 and a stocktake of statistics shows a resilient property market. In March, experts were waiting for two important figures to be updated: inflation and the base rate. The news on both was encouraging.

The first month of a new year is complete, and various statistics and indexes have been compiled. If you’re hoping to move home soon, we’re sure you can pick up some positives among the myriad of reports. We’re starting with the latest round-up from Rightmove.

The end of a calendar year gave us a chance to look back at property trends and analyse data to see how the market fared during the last 12 months. December is traditionally a quiet month as people focus on festivities rather than moving home. As such, there was little to report on house prices.  

Although we are almost at the end of 2023, the news keeps coming. November saw the Chancellor deliver his Autumn Statement. Although there were no major changes for home movers, there were some peripheral announcements to note.

We often talk about seasonality in property and this autumn has been true to form. September saw serious movers enter the market after summer and their intent is already reflected in October’s figures. Firstly, we look at asking prices.

How do you tell if a General Election is on the cards? You monitor the news for announcements that may please the masses. Property has long been an area the Government tinkers with and ministers are already repositioning their offering to win votes in England and Wales.

There’s no doubt that the property market is cooling after the unsustainable pandemic levels. While the interest rate and inflation have served to moderate buyers’ plans, property values are naturally returning to more sensible levels. Equilibrium is being provided by falling mortgage rates.

July is a month when people are away on annual leave or are juggling school holidays, and home moving activity usually reflects this. In the last four weeks, however, Rightmove found buyer demand remains strong. In fact, it’s currently 3% higher than the same time in 2019.