Recent predictions have estimated that during 2025, due to a peak in inflation, the housing market will likely stagnate.
House prices will rise much slower than in previous years and many people may choose not to sell their property for the time being, though conveyancing solicitors know that there are still regional differences. In London, for instance, a large proportion of houses that have been sold have done so for over half a million pounds.
Several estate agents and other property businesses have been approached to give their thoughts on what may happen in 2025. For example, the property website Rightmove has stated that house prices will be influenced by what happens in the south of England. It has also said that although house prices may rise slightly this year, a fair amount of sellers will also list their house for a lower price.
Mortgage lenders like Nationwide and Halifax are also on record stating that house prices may actually rise soon, though there are still plenty of homes on sale that are classed as under occupied. Sales figures are still available and show that there have been slight rises in the value of houses and house sales. Solicitors specialising in conveyancing in North Wales are preparing themselves for more confirmation on this matter when the Autumn budget is announced.
Speak to us now at Bennett Smith Solicitors and ask us for an appointment with one of our legal advisors to discuss selling your property.
