SALES IN THE MALDON AREA HAVE INCREASED FOR 2024!!

CHURCH & HAWES CAN CONFIRM A LARGE INCREASE IN SALES ACTIVITY THROUGHOUT 2024, COMPARED TO 2023, THIS COINCIDES WITH THE RECENT NATIONWIDE BUILDING SOCIETY REPORT!!

You may have read in the news recently 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).

We can happily report this announcement coincides exactly with how we’ve seen the market here locally in Maldon 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. September, October & November particularly were quite remarkable with an unbelievable 36.4% increase on the same three months last year!

In the same three months, properties that have legally exchanged contracts also rose considerably, the highest since the same period 2021. There was a 55% increase the same period last year in 2023. 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 lower level of properties for sale, in comparison to the number of buyers enquiring and wishing to buy.

We expect the early part of 2025 to continue in a similar vein, with the start 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 contact us!

If we don’t speak to you before, everyone at Church & Hawes wishes you and your family a Merry Christmas and a happy and healthy New Year.

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