Whats happening in the property market this November?

The property market is experiencing significant momentum, with the number of sales agreed up 26% compared to this time last year, alongside a 6% rise in new sellers entering the market. This surge in activity reflects growing confidence among buyers and sellers alike.  

This growth is fuelled by the easing of mortgage rates, which are unlocking pent-up demand and encouraging more people to take the next step on their property journey. 

Regionally the South East has seen minimal fluctuation in property prices, reflected in a 0.1% reduction in average property prices since last year, taking the figure to £471,477. This shows the resilience of the market in the Hampshire area, even amidst typically destabilising political events such as the General Election and subsequent budget. 

More specifically and positively, here at Beals, October saw sales agreed up 19% compared to the same time last year. This demonstrates an increase in buyer and seller confidence, which can only be further helped by the recent base rate reduction.  

Looking ahead to 2025, Rightmove forecasts a 4% increase in average asking prices; their most optimistic prediction since the pandemic-driven surge of 2021.  

Have you got a property you're thinking of selling? Now could be the perfect time to get your property valued. Contact us today for your free valuation.