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Tue 02 Jul 2024
While the summer is usually a slower period in the UK housing market, which is borne out by the latest sales agreed figures, it looks as though UK house prices are still on the rise. This is what we have seen locally in and around Huddersfield and Zoopla states this in their latest House Price Index.
At ADM Residential, we know the local market well, and we use our experience and expertise to provide you with the highest standard of service. We are a skilled and qualified team, but we stay in touch with news from trusted sources and market leaders in the housing sector.
Zoopla’s information suggests property prices in the United Kingdom will be 1.5% higher by the end of this year.
Demand for homes is higher
One thing that is always important is demand for homes. If buyers aren’t looking to move home, the market grinds to a halt. However, at this point, demand is classed as 6% higher than a year ago. This suggests buyers are confident about the market, and it is positive news for homeowners too.
When there are willing buyers, current homeowners have a greater chance of selling their home.
More home on the market
This confidence is also shown in the market, with House Price Index figures suggesting there are 19% more homes for sale than this time last year.
One of the biggest challenges in the UK housing market in recent years has been a lack of suitable homes on the market. Therefore, more homes coming to the market is positive news.
While in theory, a greater supply of homes in the market could lead to home prices falling, this doesn’t always go hand in hand. There are many factors that influence house prices, so for now, let’s just be happy about more homes being available.
If you plan on selling your home, it is best to start with a valuation from a local and skilled estate agent. We offer a comprehensive valuation service, aimed at giving you the most realistic platform to sell your home. We are pleased to say we’ve helped many Huddersfield homeowners connect with buyers, and we are here to assist you, so contact us today to arrange your property valuation.
Richard Donnell is an Executive Director at Zoopla and he has spoken about this topic, saying: “The housing market continues to adjust to higher borrowing costs through modest house price falls and rising incomes. Buyers using mortgages are also relying on longer mortgage terms to gain that extra few percentage points of buying power to afford a home.”
Richard Donnell continued by saying: “The general election campaign has had a limited impact on market activity although the seasonal summer slowdown is arriving. Sales agreed continued to increase and more homes for sale means more buyers looking to move in the second half of the year. The timing of the first cut in the base rate is a key moment and will give a boost to both market sentiment and sales activity. Overall we expect house prices to be 1.5% higher over 2024.”
Contact ADM Residential to sell your Huddersfield home in 2024
Anyone who is keen to sell their home in Huddersfield should contact ADM Residential today. We are more than happy to provide you with a property valuation, which is the ideal starting point for anyone looking to enter the Huddersfield housing market with confidence.
This is a busy time of year in the local and national housing market, but we look forward to assisting you. Call on your leading Huddersfield estate agents today for help and guidance in the local market.
"ADM will always go out of their way to help you, nothing ever feels like you're asking too much of them. They always reply to calls and emails, even out of office hours! It was a pleasure to be a tenant with ADM and I will miss the fantastic service that absolutely excelled anything I had previously received!"