Summer Property portfolio 2024 - Flipbook - Page 5
PREDICTIONS FOR THE REMAINDER OF 2024
The residential sales market in the North
West/ West Midlands is poised for a
positive trajectory following the general
election.
Given
the
current
market
dynamics and the government's housing
policies, several predictions can be made
for the remainder of 2024:STEADY PRICE GROWTH: Property
prices in these regions are expected to
grow steadily. According to Rightmove,
"We anticipate a moderate increase in
property
prices,
driven
by
the
combination
of
pent-up
demand,
limited
housing
supply,
and
governmental support for the housing
sector."
INCREASED MARKET ACTIVITY: The
election aftermath is likely to see an
uptick
in
market
activity.
More
properties are expected to be listed,
and buyer interest will remain strong,
particularly in desirable areas with
good transport links and amenities.
FOCUS ON SUSTAINABILITY: There is
a growing trend towards sustainable
living, with many buyers prioritizing
eco-friendly homes. The government9s
focus on green policies will likely
encourage the development of energyefficient housing, which could become
a significant selling point in the
market.
INTEREST RATE IMPACT: Interest
rates are a crucial factor in the
housing market. While they have
remained relatively low, any potential
increases by the Bank of England
could impact affordability. However,
the current drop to 5% will boost
activity
to
the
summer/autumn
market.
INVESTMENT OPPORTUNITIES: The
north west counties offer attractive
investment opportunities, particularly
in rental properties. The demand for
rental housing remains robust, driven
by young professionals and families
looking for flexibility. Investors are
likely to find good returns in areas
with strong rental demand.
Our highly experienced and qualified
team here at Larch Property are poised
to answer any questions you may have
with regards to the market.
Rebecca Fifield, MRICS, DEA
Senior Sales Negotiator
01743 709249
rf@larch-property.co.uk
James Willis, MRICS, FAAV
Director
01948 666695
jw@larch-property.co.uk
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