Sellers hit the ground running in 2024

Eager home sellers got the year off to a good start before it had even begun, with over 10,000 properties put up for sale on Boxing Day 2023 – the highest number of new listings in one day since 2011*. This momentum carried over into the new year as estate agents received a record number of requests for in-person home valuations in January.

Sellers were not the only ones returning to the market – at the start of the year, buyer enquiries were up by 7% when compared with the same period in 2023. This translated into 16% more sales agreed in the first six weeks of 2024 than last year.

 

Get the price right

Rightmove’s Property Expert, Tim Bannister, advised that many buyers are still “price-sensitive” despite the increase in confidence. A report from the property portal therefore reflected that ‘The housing market appears to be operating at two-speeds. Some sellers coming to market with too high an asking price are ending up needing a reduction later. Sellers who price right first time are seeing their homes sell the most quickly, without the need for a reduction, to be able to secure a buyer.’

 

Talk to us

If you’re considering moving or selling this year, we’re here to help. Get in touch for mortgage advice.

 

Your home may be repossessed if you do not keep up repayments on your mortgage.
 
* Rightmove

16 May, 2024

More news

20 May, 2024

It was a disappointing Spring Budget for anyone looking to get onto the housing ladder. There was a
Just a few days ahead of the key fiscal event, the Chancellor had already scrapped plans for 99% loan-to-value (LTV) mortgages for first-time buyers following resistance from the banking community. Th

13 May, 2024

In a survey of UK workers, 37% of respondents thought life insurance and income protection cost more
This is a significant oversight considering that 40% stated that affordability was key when deciding on a policy. Those surveyed estimated income protection to cost £35.20 per month, but the average

7 May, 2024

Having barely shifted since last autumn, many analysts expect that interest rates may start edging d
Time for a fall? Most analysts agree that interest rates have peaked but there is less consensus on exactly when they will start to drop.   One forecast1 has suggested that Bank Rate rates will