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What is happening to the housing market?

Last Updated 01/02/2024

The start of a new year means it’s time to move home for many people, but what has been happening with property sales?
So far in 2024 the housing market has been very buoyant. The latest statistics released by Rightmove show that buyer demand in the first week of January 2024 was 5% higher than the same period last year, with the number of houses that came to market in January being 15% higher than the same period last year.

So what does this mean for anyone wanting to sell their home?

These statistics are a reassuring sign that there are plenty of buyers and sellers keeping the market moving. The average new sellers asking price also increased 1.3% between December and January which is the biggest increase since the same period 2020.

But what about interest rates?

Well, there is good news here too! The average 5-year fixed mortgage rate is now 4.86% which is down compared to 6.11% in July 2023. Although it is very hard to say what will happen throughout 2024 with mortgage rates, this is a positive start to the year.

Scrivins & Co hit the ground running in 2024! In January we agreed 26 sales on properties in our local area.

Check out just some of the houses sold below:

Garner Close, Barwell - Offers Over £350,000

Seaforth Drive, Hinckley - Offers Over £250,000

Chapel Street, Barwell - Offers Over £180,000

Desford Road, Thurlaston - Offers Over £375,000

Upper House, Hinckley - £130,000

Why not get in touch to book your free valuation today! 01455 890480