Are we in a ‘normal’ housing market?
If you listen to the press the housing market is either booming or crashing…but that isn’t the reality.
For long periods of time, it can be operating with well priced, well marketed properties selling but not necessarily flying out the door.
That may be where we are at the moment.
Looking at the data. In East Norfolk and North East Suffolk, about 35% of houses listed as sold stc. We have seen this as low as 15% and as high (straight after covid and during the stamp duty holiday) as 80%. This 35% mirrors the national average. This means the 65% of houses are looking for buyers giving house hunters choice which is why we have seen house prices quick stable over the last 18 months with only small rises and falls recorded.
What may happen in the future? Interest rates have been falling but the surprise rise in inflation may slow this. It certainly seems like the normal and healthy housing market we have now will continue for the rest of 2025 with supply and demand quite consistent and good levels of sales being recorded.