As we wrap up 2024, it’s a great time to reflect on the year’s property market and look ahead to what 2025 might hold for homeowners, buyers, and sellers in Harpenden and the surrounding areas. While the election and the resulting budget created some initial turbulence, we’re now entering a more stable period. Looking back, it’s clear that the property market has shown resilience, with the number of sales nearly identical to 2022 levels. After the slight downturn in 2023, things are definitely looking up, and in fact, the current property market is performing better than the pre-pandemic years.
Increased Stock and More Opportunities
One of the key drivers behind this positive shift is the increase in the amount of stock available. Currently, there is more property on the market than at any point in the last five years, with the number of homes available up by 24% compared to this time last year. This surge in inventory is a double-edged sword – it creates more opportunities for buyers and, at the same time, intensifies competition for sellers.
If you’re thinking about making a move, now could be the perfect time, as more stock gives you a greater chance to find the home you’re looking for. But, as with any market, there are a few important things to consider, particularly as we approach the spring season.
Will More Choice Mean Lower Prices?
As we enter 2025, many more properties are expected to hit the market, especially in the early spring months. This influx, combined with homes that may remain unsold over the winter period, could create some downward pressure on property prices. With so much choice for buyers, sellers will need to work harder than ever to stand out.
Don’t get us wrong – choice is a great thing for buyers, and it can work in your favour as a seller, too. When competing against other properties, buyers are more likely to recognise the value in your home. The trick is in making sure your property is priced right and looks its best. Homes that are attractively priced and well-presented are the ones that will sell quickly.
The Fine Art of Pricing and Presentation
As a seller, you’ll need to navigate a fine balance between pricing and presentation. If your property is priced too high or isn’t in top shape, it may get lost among the competition. But when you get it right – price it competitively and ensure it’s in great condition – your home will stand out and attract interest. In fact, your home could be the one that sells first, leaving you in a strong position to purchase your next property, potentially even securing a bargain in the process.
Pricing is a bit of an art form, and it’s easy to make mistakes if you’re not careful. That’s where we come in. At Tuckfield Estates, we offer expert advice to help you get the best results, whether you’re buying or selling.
Thinking of Moving? Let’s Have a Conversation
If you’re contemplating a move in the next six months, we strongly recommend speaking with us sooner rather than later. Whether you’re looking to buy or sell, we can provide the insights and support you need to navigate the market successfully. Don’t wait to start planning – let’s get ahead of the curve and make sure you’re ready to make the most of the opportunities in 2025.
So, put the kettle on and let’s chat about your plans. We’ll bring the mince pies! Wishing you all a very Merry Christmas and a Happy New Year from all of us here at Tuckfield Estates. Call us on 01582 260580 or email info@tuckfieldestates.com.