As the vibrant colours of autumn begin to set in, the property market comes alive with new opportunities. With cooler weather and motivated buyers, autumn is often considered the best time to buy a house. The season brings an influx of listings, more favourable mortgage rates, and a unique window to secure your dream home before the year’s end. Now is the perfect moment to make your move!
Autumn Action: The Perfect Time To Sell Or Buy A House
The property market is seeing an early surge in activity this autumn, presenting a fantastic opportunity for movers. At ehB, we are closely monitoring the market trends and it’s clear that homeowners and buyers are already making the most of the current conditions. Whether you’re looking to buy a house or sell one, now could be the ideal time to take action.
The average asking price for new listings has risen in September. Although a price increase is typical for this time of year, this rise is double the long-term average, highlighting the increased market activity. It’s evident that both sellers and buyers alike are spotting a window of opportunity as mortgage rates trend downward and property availability increases. This is welcome news for anyone ready to make their move and buy a house before the year ends.
Strong Buyer Demand And Increased Listings
We’re seeing a significant rise in sales being agreed between buyers and sellers, compared to the same time last year. The number of potential buyers contacting estate agents has also risen substantially. This strong demand signals that there is more confidence in the market. With mortgage rates showing signs of stability, many are eager to move quickly, making this autumn an excellent time for both buyers and sellers.
If you are looking to buy a house, there’s also more choice on the market, with new sellers up significantly compared to this time last year. Currently, the average estate agent has around 33 homes for sale, the highest level since 2014. If you’re considering selling, this increased buyer interest means that now could be the perfect time to act before the year’s end, especially as well-priced homes continue to attract high volumes of attention.
Mortgage Rates: A Mixed Bag
While mortgage rates have dropped from their peak in July 2023, the average 5-year fixed rate still sits at a reasonable rate. This has nearly doubled the rate from three years ago, meaning affordability remains stretched for many buyers. However, with earnings now rising faster than both inflation and house price growth, many are seizing the current opportunity to buy a house before further economic changes take place.
At ehB, we are keeping a close eye on upcoming developments, particularly any housing announcements expected in the Autumn Statement on October 30th. These could further impact mortgage rates and market activity, making it crucial for movers to stay informed and act quickly while conditions are favourable.
What’s Next For The Market?
While uncertainties remain, the early autumn action has been strong, continuing the momentum from a better-than-expected summer market. Both buyers and sellers are motivated and with a potential Bank Rate cut on the horizon, we expect the market to stay active through the coming months.
If you’re planning to buy a house or thinking about selling this autumn, now is the time to get moving. With more homes available and increased buyer demand, it’s a prime moment to make your move and take advantage of this early autumn market window before any further economic shifts.
Trust The Experts
At ehB, we pride ourselves on our deep understanding of the property market and our ability to guide our clients through every stage of the buying or selling process. Our expert team is here to help you price your home competitively, market it effectively, and find the perfect buyer or your dream home.
Don’t miss out on this autumn’s early market action. Whether you’re looking to upsize, downsize, or take your first step onto the property ladder, get in touch with us online today or give us a call 01926 881 144.
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