Promising Start to 2025 for Sellers

2025 has kicked off with a positive surge in market activity, with new seller asking prices increasing by 1.7% (+£5,992) this month to an average of £366,189. This marks the largest January price jump since 2020. However, prices remain nearly £9,000 below the record high of May 2024, highlighting ongoing buyer affordability challenges.

Since Boxing Day, a record number of sellers have brought their properties to market, providing buyers with the highest level of choice at the start of the year since 2015. New listings are 11% ahead of the same period last year, and buyer demand is also on the rise, with enquiries up by 9% and sales agreed increasing by 11%. Rightmove has also reported its busiest start to the year for Mortgage In Principle applications, suggesting strong buyer intent despite lingering affordability concerns.

While these early indicators are promising, uncertainties remain. Mortgage rates, currently averaging 4.75% for a five-year fixed rate, continue to limit affordability, and the upcoming 31st March stamp duty deadline may impact buyer urgency.

For sellers, the competitive market offers great opportunities, but pricing remains crucial. With more choice available, buyers are prioritising well-priced homes. Over-optimistic pricing could leave some properties overlooked, so positioning your home competitively from the start will be key to securing a sale in this thriving market.

If you’re considering selling in 2025, now is the time to take advantage of this bustling market. Get in touch with us to discuss how we can help you achieve your moving goals this year!