January 2024 - Property & Mortgage Market Update

Wow! It has been a busy start to 2024. This was similar in January 2023, and hopefully, this trend will continue for the rest of the year.

We reported in our December update that there seemed to be more tenant 'choice' on the market, resulting in a slow down of lets being agreed. It has transpired that people naturally have waited until the new year before looking to move again. We have received high levels of enquiries throughout the month. Typically this has been for apartments as there are fewer houses available. For those larger family homes prices are still comparatively high.

Contributing to this has been the relocation of residents of an entire block in Bournemouth where urgent safety work is required. If you are affected or know of anyone affected, please speak to us as we would be happy to help.

Interestingly sales are starting to bubble again, perhaps as there has been some better news about mortgage rates which may help give some confidence to the market and in particular buyers.

This brings us to our latest video (see above) with Ashley Rich from Yes Mortgage Services. As usual, Ashley provides some great insight into the mortgage market and in our video, we cover -

• Latest rates for buyers.
• Mortgages and re-mortgages for Landlords.
• Lending tips on unusual properties (such as above commercial)

If you would like to get in touch with Ashely we will include his details below.

If you would like further information, guest requests, or wish to discuss the local market please call us on 01202 554470.