How is the market? A question estate agents are asked a lot…especially this time of year. To answer we have to, initially, look backwards. 2023 was a year where we saw a slowdown in the housing market in response to raising interest rates and economic uncertainty. The number of houses selling fell from the very high numbers we saw in 2020, 2021 and 2022. Although the Bank of England base rate hasn’t fallen mortgage lending rate have started to drop as banks compete to write new mortgages and expect the base rate to be lower in the future. December 2023 was a far better and improved month compared to December 2022. We expect this to feed to better market conditions as we move on to 2024. We are already seeing more people arranging sales appraisals, viewing numbers are increasing, offers being received and the all important sales being agreed. There will still be challenges this year, however, many people who were ‘waiting to see’ are now starting their house hunts. In summary we expect a more buoyant market in 2024. If you are thinking of selling and are interested in how the market has changed contact us now for a market appraisal.