Spring Market update
Plenty of choice for buyers, sellers willing to adjust their pricing expectations, strong competition between lenders driving interest rates down, less stringent affordability testing, and stable market conditions are all helping to support supply and demand, which is creating an environment conducive to enhanced activity.
May has been a busy month with a couple of Bank Holiday weekends, a trade agreement with the US, a cut to the base rate to its lowest point since March 2023, inflation rising to its highest level in just over a year, the highest month for new listings since August 2020, over 100,000 price reductions, the best month for sales agreed since April 2022 and the best May sales results in four years, plus a new record for house prices according to the Land Registry.
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