Posted on October 7, 2024 by Tom Grant
Categorised in: Uncategorised
Is there an autumn market this year? We reflect on how the 2024 market has evolved;
A steady start to the calendar year turned into a buoyant Spring and lots of activity post Easter. Then somebody announced an election…….the brakes were firmly applied by potential buyers as they waited to see what happened, not that there was really any doubt in the outcome. As we transitioned out of the post-election summer and planned for a more active autumn, somebody else announced an Autumn budget……. and the brakes were back on again!
One word describes the current market and that is “hesitation”. Many people are understandably uncertain of what is ahead and don’t have the confidence at present to commit to a house move, be it selling or buying. But is this a new phenomenon? No, not really, we’ve seen it all before but the economy is actually in better shape than 12 months ago.
Yes, the Autumn budget is causing hesitation, but we’ll know our fate in 3 weeks’ time and life will continue thereafter
Activity is lower but many buyers are more focused, they still want to buy and are seeking out the best options
Sales are still being agreed, albeit at a slower pace than we would like
Prices are stabilising which should build confidence for both buyers and sellers
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