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Wed 01 May 2024
After a challenging period marked by economic uncertainties and fluctuating mortgage rates, the UK property market is witnessing a renaissance this spring, fuelled by a significant surge in home listings. As homeowners across England gain renewed confidence, the surge in available properties is igniting optimism and presenting promising prospects for both sellers and buyers alike.
The property landscape has taken an encouraging turn in the first quarter of 2024, according to the latest research by eXp UK. The data reveals a remarkable 9.2% increase in for-sale stock levels across the English property market, indicating that sellers are proactively capitalising on the improving market conditions.
But the positive momentum doesn't stop there. The current stock levels have soared a staggering 15.6% compared to the same period last year, a clear testament to the growing number of homeowners seizing the opportunity to embark on their next chapter.
Growing confidence in the housing market
This upswing in available properties signifies a resurgence of confidence among sellers, who were previously deterred by the subdued market activity fuelled by higher mortgage rates. With a renewed sense of optimism, homeowners are now embracing the chance to unlock the potential value of their properties and explore new horizons.
For prospective buyers, this influx of listings translates into a wider array of choices and increased flexibility in finding their dream homes. The heightened competition among sellers could also result in more favourable pricing and negotiation opportunities, making the prospect of homeownership more attainable for many.
The spring revival in the property market is not just a fleeting trend; it represents a pivotal moment for both sellers and buyers to seize the advantages of a dynamic market.
We help Huddersfield homeowners sell their home
Homeowners who have been contemplating a move now have a prime opportunity to list their properties and potentially secure a rewarding sale, while buyers can benefit from the increased supply and potential for more attractive deals.
Adam Day is the head of eXp UK and he has spoken about this topic, saying: “Agents across the nation will have been hard at work, building a strong pipeline of for sale stock ahead of the seasonal spring surge in market activity. However, it’s fair to say that this uplift in the number of homes listed for sale also demonstrates the improving health of the property market when compared to the more subdued landscape of last year.”
Adam Day continued by saying: “With buyer appetites dented by higher mortgage rates, many sellers had chosen to sit tight with respect to their sale, particularly in the face of cooling house prices. But now that we’ve seen a consistent increase in both mortgage approval levels and house prices during the start of this year, they are rapidly returning to capitalise on these returning market conditions.”
As the market continues to thrive, it is essential for homeowners and buyers alike to stay informed and seek guidance from trusted real estate professionals.
If you are contemplating selling your home, we are here to help, the first step is to arrange a property valuation of your home, an area we specialise in. With a full valuation, conducted by one of our trained and experienced professionals, you’ll have the most realistic valuation of your home, giving you all the information you need to decide if you should start the sales process.
At ADM Residential, we are pleased to say we have helped many local homeowners connect with buyers, and sell their home. If you believe this is the ideal time to sell your home, we are here to help you.
Contact ADM Residential to sell your Huddersfield home in 2024
Anyone who is keen to sell their home in Huddersfield should contact ADM Residential today. We are more than happy to provide you with a property valuation, which is the ideal starting point for anyone looking to enter the Huddersfield housing market with confidence.
This is a busy time of year in the local and national housing market, but we look forward to assisting you. Call on your leading Huddersfield estate agents today for help and guidance in the local market.
"I first started marketing my property with Alethea in August and we had sold the property by mid November! I do not believe this was down to luck, instead it was Alethea's drive and passion that got us this great result. Alethea has great attention to detail and is always on the ball. I was always kept informed of any progress including viewings etc. Alethea even gave advice to our buyers which was not part of her job but helped in speeding up the sale which was beneficial to all parties. I have been very satisfied with the service I received which was enhanced by Alethea's great personality and drive."