Property predictions for the year ahead

2024 was a year of continued stumbling blocks where there was always something on the horizon that would have a detrimental effect on confidence. As a consequence there have been many more reasons for both potential buyers and sellers not to move and as such people have taken a “wait and see” approach.

Hopefully we will be now entering a period of calm and certainty with the likelihood that interest rates will be further reduced meaning that affordability will improve. Given that over the last 18 months there have been more reasons to not move than to move there should be a strong underlying demand.

Supply of properties to the market has also been stunted which is something I would expect to be reversed with Sellers who have potentially wanted to move for a while now having the confidence to do so.

As in recent years it is likely to be a price sensitive market and as such marketing at realistic pricing will be vitally important. Given that there is going to be increased competition with more properties for sale, ensuring that the property is presented to its upmost gives it more chance to stand out from the crowd. So decluttering and finishing off any decorative works that need doing is going to be key.

Numerous changes affecting the rental market have caused a further reduction in the supply of new rental properties coming to the market and whilst demand may have dropped slightly the imbalance with demand still outweighing supply has meant that prices will continue to rise in the coming months.

Andrew Beadnall

As seen in the Yorkshire Post on Saturday 11 January 2025