Church & Hawes Danbury Office Autumn Activity Report
Huge upsurge in sales and enquiries in the latest quarter compared to the same period in 2023 for Danbury, Little Baddow & the surrounding villages
You may have read in the news over the past few days how the property market has seen a marked increase in sales activity over the last quarter and even the fastest annual house price increase for two years in November (announced by Nationwide, 3/12/2024).
I can happily report this announcement coincides exactly with how we’ve seen the market here locally in Danbury and the surrounding villages.
September, October & November have seen the highest level of buyer enquiries since Summer 2022. We’ve also recorded the highest number of sales agreed since the first quarter of 2023. October & November particularly were quite remarkable with an unbelievable 533% increase on the same two months last year! That’s a total value of £17,823,000 worth of property.
In the same three months, properties that have legally exchanged contracts also rose considerably, the highest since the same period 2021. There was a 94% increase from 2023 and a 68% increase from 2022.
Nationwide noted that the housing market had remained "relatively resilient" in recent months, with the number of mortgages approved at near pre-pandemic levels. Mortgage approvals in October hit the highest monthly level since August 2022, according to Bank of England figures released last week.
We now find ourselves in a similar position to 2020-2022, where we have a low level of properties for sale, in comparison to the number of buyers enquiring and wishing to buy.
I expect 2025 to continue in the same vein with the first few weeks of the year being very busy, bearing in mind they’ll be stamp duty changes in April.
You can read the BBC news article here…. https://www.bbc.co.uk/news/articles/c0mvn4g3r3ko
If you require buying or selling advice, or maybe an up to date valuation of your own property, then please don’t hesitate to drop me a line by reply or call.
If I don’t speak to you before, I wish you and your family a Merry Christmas and a happy and healthy New Year.
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