As we say goodbye to April 2024 our Managing Director, Andrew Cardwell gives a brief synopsis of what has been happening in the Bury property market and the Bolton property market.
“In April 2024 we have seen excellent levels of new stock coming to the market, particularly in the Bury and Bolton areas, and although this may be buoyed by an early Easter, the signs are clear that the vast majority of people have adjusted to the higher interest rate levels, which have become slowly become our new norm. That said, the headline rate of inflation falling to 3.4% should hopefully put those interest rate reductions into a little more focus as we progress into the early Summer months and as we edge closer to a general election.
Landlords choosing to step away from the buy to let business model continue to provide a regular drip of additional sale properties to the market. This is bad news for tenants of course whose choice of new rental properties is being limited, but good news for buyers as additional homes become available for consideration.
The sales levels have once again been particularly strong in the lower price bracket of the market, while the interest rates, affordability and cost of living burdens are putting pressures on those looking to buy in the upper mid and upper price brackets of the market. There remains a strong desire for people to move throughout all the price ranges, though this is not at any price, and there is certainly a price sensitivity to the demand levels. Property pricing in line with the market conditions is proving to be successful, while optimistic and somewhat hopeful property pricing is contributing to a number of prices being adjusted in the hope of finding the sweet spot in relation to demand. People want to sell and buy, but they are not at any cost. Encouragingly, mortgage approvals for house purchases continued to pick up in February, rising above 60,000 (UK as a whole) for the first time since September 2022. However, they remain below their pre-pandemic norm of around 66,000.
The choice of new rental properties continues to be relatively limited for tenants, while this stunted supply is of course going to have an impact on the rental prices.”
Cardwells Estate Agents Bolton and Cardwells Estate Agents Bury are available if you would like an up to date property valuation. We can provide an accurate valuation of your property for free and that may be a great place to start the process of potentially selling your property in Bury or Bolton, just put a few details in this form and we will go from there: https://www.cardwells.co.uk/sell-with-cardwells/
If you are considering selling a house in Bury be it through auction or traditional methods, letting a property in Bury, or selling a commercial property in Bury for example, Cardwells Estate Agents Bury are your ideal starting point for all your residential and commercial property needs. Just call Cardwells Estate Agents Bury on 01617611215, email; [email protected] or visit www.Cardwells.co.uk or pop your details into this form and we will call you back https://www.cardwells.co.uk/sell-with-cardwells/
If you are thinking of selling a property in Bolton via auction or a more traditional method, letting a house in Bolton, selling commercial property in Bolton, letting a flat in Bolton, letting a shop on Bolton, selling a house in Bolton for example, then Cardwells Estate Agents Bolton are your perfect Estate Agents in Bolton. Cardwells Estate Agents Bolton 01204381281, email: [email protected] or visit us at www.Cardwells.co.uk or pop your details into this form and we will call you back https://www.cardwells.co.uk/sell-with-cardwells/
Cardwells can introduce you to independent financial advisors who can help you find the best possible mortgage product for your upcoming move or remortgage. Just fill in the form here https://www.cardwells.co.uk/mortgages-financial-services/ and we will pass your details onto them.
Cardwells are the market leading estate agents in Bolton and Bury and are here to work for you and get you the best possible price for your home.
Cardwells Estate Agents Bolton:
01204381281
[email protected]
www.Cardwells.co.uk
Cardwells Estate Agents Bury
01617611215
[email protected]
www.Cardwells.co.uk
