We’re ending the year on a positive note, with buyer demand soaring 26% higher than the same time last year, as more homes were listed for sale and sellers searched for somewhere new to buy.*
While demand places you in a strong position to sell, it can be challenging to navigate an unbalanced market without guidance. As such, here are our top tips:

Don’t underestimate end-of-year activity

As the year draws to a close, potential sellers often decide to hit the brakes on their moving plans in favour of getting started in the new year. But by doing so, you could be missing out on a sweet spot in the market.
Home buyers have been benefitting from the lowest average mortgage rates for more than a year, which has supported double-digit growth in sales market activity.* Buyers are well-positioned to buy right now, which means you are also well-positioned to sell.

Sensitive pricing

Sensitive pricing remains key for sellers. Pricing your property in line with current market conditions will attract more buyers and keep your property from languishing on the market. With rising buyer demand, setting a competitive price will help you secure more offers and create a sense of urgency among potential buyers.
Collaborating with an experienced agent to determine the best price is essential to achieving the best result, so don’t skip out on an expert valuation from a local agent.

Timing

Timing is everything when it comes to selling. Listing your home during the end-of-year window, when others may be holding off, could give you the competitive edge you need. This is a prime opportunity to get ahead of the usual flood of listings that tend to appear after the Christmas period, which may result in more competition. Taking advantage of the current demand ensures that your property stands out and gets the attention it deserves.

Enlisting an agent

Enlisting an experienced agent is crucial in an ever-shifting market as a professional agent will guide you through the complexities of selling, helping you with everything from setting the right price to navigating negotiations. With our market insights and strategic advice, you'll be able to sell your home quickly and for the best price. Additionally, we can also help you find your next home, making the transition even smoother.

The good news that rents are not rising as rapidly must be music to your ears. As the year concludes, rental inflation stands at a lower rate than previous years. This is largely thanks to a 1.6% increase in rents for new lets over the first six months of 2024.* This was the slowest rise since 2021. We discuss the positives this creates for you.

A slowing of spiralling rents

As 2024 draws to a close, rent increases for new rentals are expected to average 3-4%, down from 8% in 2023 and 11% in 2022.* The rental sector welcomes this news, but it's understandable that you'd want more. It’s no secret that the sector is under reform, as the Renters’ Rights Bill aims to improve life for tenants. However, this may take some time to enforce, and there are still many rogue landlords out there.

A less frantic market

With the demand for rented homes less intense, you may have a greater chance of securing the home of your dreams. Homes are in high demand; however, thanks to the reduction in interest rates, first-time buyers are moving out of rented homes. This could potentially lessen the intensity of competition in your search for a suitable home. So, the more prepared you are, the better. However, good properties disappear from the market as quickly as they appear.

More choice

As tenants become homeowners, new developments and new landlords enter the market, you get a wider choice of properties. Sometimes it’s challenging to find the right home. Beginning your search as early as possible will give you the opportunity to keep looking. The more you search, the better your chances. For some, this is an enjoyable experience, for others, not so much. Virtual tours make it easier, but nothing beats an in-person viewing.

A glimpse into 2025

Now that this election year is done and dusted, the UK rental market is settling down. However, if you are thinking of switching homes, it might be wise to act sooner rather than later. This is because many retiring landlords have chosen to sell up. However, the construction of new homes in 2025 promises to offer positivity as the supply of homes increases.

Bring the search to you

It's no secret that the rental market is undergoing significant changes. If you need guidance and the peace of mind that comes with a managed property, using a reputable agent can provide it, plus much more. From assistance with securing your deposit and maintenance to discovering potential property matches, your local agent can help. Getting potential property matches sent straight to your inbox, so you can take a look inside, while you are on the go is a great way to make an early start.

For property investors, strategy is key and usually starts with contemplation. Examining the year behind us can help you to develop your future plans. Whether you’re a seasoned landlord or a potential investor, here are some of the key takeaways from 2024:

Rental growth

In the 12 months to August 2024, average rents increased by 8.4% in the UK, marking a period of steady growth for the market.* This upward trend reflects a surge in tenant demand. With a growing population and ongoing challenges in homeownership affordability, more individuals are opting to rent, intensifying competition for available rental properties. The strong rental growth may continue as supply remains constrained in many regions, making this a key trend for both tenants and landlords alike.

Interest rates

On October 3rd, 2024, the Bank of England's base rate fell to 5%. This was a highly-anticipated decrease from the previous rate of 5.25%, which was the highest level in 16 years.**
The base rate is crucial as it influences the borrowing costs for banks and lenders, which then impacts interest rates on a wide range of financial products, including mortgages, loans, and personal credit.
Homebuyers and property investors are particularly sensitive to these changes, as mortgage rates typically move in line with base rate adjustments. With the base rate falling rather than rising, securing a mortgage has become more attainable this year.

Renters’ Rights Bill

Following the Conservative government’s decision to shelve the Renters' Reform Bill, which had proposed extensive changes to the rental market, the Labour Party has committed to introducing new legislation through the Renters' Rights Bill.
This reform is aimed at rebalancing the power dynamic between tenants and landlords, ensuring that renters have more stability in their living arrangements, while landlords have clearer legal frameworks to follow. As housing policies continue to evolve, both tenants and landlords will need to stay informed on how these legislative changes may impact the rental landscape.

Landlords needed

Despite gradual improvements in the overall supply of rental properties, the market remains strained. The number of available rental homes is still 20% below pre-pandemic levels***, creating a significant supply gap. This shortfall offers a prime opportunity for potential investors, as high demand combined with limited supply is likely to sustain rental price increases in many regions.
For new landlords or those looking to expand their portfolios, entering the market at this pivotal time could prove beneficial. With fewer homes available, renters face intense competition for properties, particularly in urban areas and regions experiencing population growth. This dynamic makes the rental sector an attractive option for investors seeking strong returns.

Whether you are staying put or moving, the last thing you need is a break in. You may be insured, but the emotional consequences and the time it takes to replace precious items can cause chaos and delay your move. So, with this in mind, we give some tips that may help keep your home safe over the holidays.

Invite friends or family

There’s nothing better than having friends and family over for drinks or food. Perhaps there are certain family members that you may prefer to invite when you are not in! Either way, getting some people around to check all is okay or watering the plants and drawing the curtains may help create the impression your home is not alone.

Gadgets and video phone door bells

If you want to keep an eye on who is at the door even when you are not in, you can’t go wrong with a video ring doorbell. Smart security cameras and app-controlled devices may help create the impression that your home is not empty. Smart technology allows you to do so much, from checking the contents of your fridge to adjusting lighting.

Socials

Sharing memories and reels online is fun, and no doubt you will want to update your friends, family, and followers. That said, sharing your location can sometimes, if you are overly explicit, advertise the fact that your home is empty. On the other hand, you can also use social media to keep up with any news in your area that gives you cause for concern.

Lighting

Lighting can be an effective deterrent to burglars. Timers and sensors work well outdoors and indoors. During this season, you might find yourself tempted to run a cable through partially open windows. This might make forcing open your home’s windows less of a challenge, leaving what could be an easy entrance to your home.

Hiding keys

Hiding keys might be convenient, but it’s also a way of inviting burglars to your home. Instead of making it easy for them by hiding a key or using a key safe, it might be better to make alternative arrangements. Instead of leaving keys under a plant pot or the front door, perhaps it’s better to leave a spare key with a trusted friend or family member.

Don’t present your presents

Leaving open or unwrapped gifts is a good way to entice burglars. Undoubtedly, you will need to conceal your gifts from your loved ones. Your home insurance policy may require the inclusion of certain items. For instance, your existing policy may not always cover bikes, necessitating additional coverage.

Looking for a more secure home? Contact us

Leaving open or unwrapped gifts is a good way to entice burglars. Undoubtedly, you will need to conceal your gifts from your loved ones. Your home insurance policy may require the inclusion of certain items. For instance, your existing policy may not always cover bikes, necessitating additional coverage.