Price increases on the rise...? Could 2024 be the year to sell....???
The UKs biggest residential lender has shown 3 months of consecutive price increases. Weirdly coincidentally since the point mortgage rates started to drop…..
The UKs biggest residential lender has shown 3 months of consecutive price increases.
Weirdly coincidentally since the point mortgage rates started to drop…..
They showed a 1.7% increase in 2023 on their completion prices and prices are at the highest level since March 2023…
So you mean to say that more people come back to the market as it becomes more affordable…..
Which drives competition and prices higher if the supply is restrained/steady…..
Well who would’ve thought basic economics would still apply hey
So rates are getting lower and will go further quite fast, supply is stable and increasing.
Homebuyers are bringing their properties to the market to sell, which is chain triggering and stimulates more activity.
2024 will be a battle between increased affordability and pent up demand versus a stuttering economy, a fight to stop an inflation bounce and some vote winning policies.
I think it will be a draw BUT it could very well go 2021 style CRAZY crazy again…
I wouldn’t be surprised
2024 is going to be fun