What's in store for the Sales Market in 2025? 📊
#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
Take a look at the key predictions from Rightmove's in-house experts, to make sure you start your moving journey as prepared as possible... 🧳💼🛄🏡➡️
🔸 2025 will still be a buyers’ market
🔸 Improved choice of homes for sale and longer average time to sell means home-buyers will continue to have the upper hand
🔸 Average asking prices set to increase by 4%
🔸 Expecting 1.15 million completions in 2025, which is an increase on recent years
🔸 This activity reflects improving market conditions, but sellers will still need to price competitively in order to find a buyer
🔹 Mortgage rates look set to fall, but not to historic lows
🔹 Five-year and two-year fixed rates could drop to around 4.0% in 2025
🔹 This reduction in average mortgage rates is tied to predictions of four Bank of England Base Rate cuts in 2025
🔹 For those deciding between fixed-rate options, two-year deals may become increasingly attractive as their costs align more closely with five-year rates
🔹 While lower rates are likely to boost buyer confidence and affordability, we won’t see a return to ultra-low mortgage rates
🔸 Stamp duty changes impacting buyer activity
🔸 From April 1, stamp duty rates are set to rise, which could mean increased buying costs for some home-movers
🔸 The number of first-time buyers that are active in the market is 13% ahead of the same period last year
🔹Re-mortgaging will be a big focus for mortgage lenders
🔹If you locked in a five-year fixed rate during 2020, when fixed rates were much lower on average, you may see higher costs when you re-mortgage
🔹If you secured a two-year fixed deal at higher rates in 2022 or 2023, you could benefit from lower monthly repayments as rates decline
📩 You can read the full article from Rightmove here 📩
If you are looking to buy your dream home in 2025, contact Emma (emma.travers@cavendishproperty.co.uk) or complete the form opposite ➡️
📸 Emma Travers, Head of Sales, Lettings and Investments at Cavendish Residential 📸
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