Looking ahead to the new year’s property market with confidence

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Experts are upbeat about the state of the housing market as we approach 2024 (Image: Getty Images)

Clive Hedges, branch manager at Arnolds Keys’ Coastal Hub in Sheringham, speaks about the future housing market.

Without wanting to mention the ‘C’ word, we are already into November, and our sights are starting to focus on the new year.

It is true that the housing market has become slightly less seasonal than it once was, but nevertheless Christmas and the new year do see a bump in activity, as people use the festive break to research their next home, or are spurred into action by January resolutions.

Eastern Daily Press: Clive Hedges, branch manager at Arnolds Keys’ Coastal Hub in Sheringham

Clive Hedges, branch manager at Arnolds Keys’ Coastal Hub in Sheringham (Image: Arnolds Keys)

It may surprise you to hear that we are looking into 2024 with a certain confidence. At long last some of the financial turmoil of the past 18 months is finally starting to settle down: most commentators think that interest rates are at or at least near their peak; inflation is finally on a downward trajectory; and people are coming back into the market.

The last month or so has seen a definite upturn in activity. Cash buyers, who don’t need a mortgage, have made up an increasing proportion of purchases for some months. While they are unaffected by mortgage rates, the fact that they are in the market in some numbers rather belies supposed fears about a price crash – if you were a cash buyer and believed homes would be significantly cheaper in the near future, you would simply sit on your money and wait.

One report also suggests that rapidly rising rents are driving more first-time buyers into the market as well. If your landlord has just

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