The year past and the year ahead

So, another year has passed and with it, we have seen another fair share of trials and tribulations.

I hope by the time you all read this you have had a lovely Christmas with as little disruption as possible. If you thought the property market was hard to navigate, try travelling by train or using Royal Mail during December!

In what has been a year dominated by political musical chairs we have seen a levelling off in the property market. The increasing trends in both interest rates and inflation have put paid to the rampant market we had seen during the ‘Covid Years’. Thankfully predictions for interest rate peaks are lower than first feared. This means that although activity levels are lower, they are no different from a normal market during the winter months.

Purchasers are once again money savvy. Happy to buy but at a level that they deem fair. Property is still coming to the market and, despite the freezing temperatures upon writing, viewings are still being booked.

The New Year will be a great indicator of the year ahead. The Christmas period will see a sharp rise in property viewings on Rightmove – Boxing Day has the highest traffic levels of the year – and January will see an uplift in activity as a New Year brings a New Start.

Remember that although a property may not sell for thousands over an asking price, as it has done in the past, it also means you won’t be buying at an inflated level either. Hopefully, like the property market, the year ahead will be more settled with fewer incidents and surprises. As always Poole Townsend are here to help you navigate your way through either selling or buying a property in the New Year. May it be a healthy and prosperous one for everyone!

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