The Plymouth market has been inconsistent, with activity varying significantly week to week. The recent interest rate reduction has sparked some buyer interest, but many are still in a browsing phase, hesitant to make commitments. Some weeks see a flurry of activity, while others are notably slower. This inconsistency points to a market in flux, with buyers and sellers alike hoping for more stability in the coming months. As we move into the latter part of the year, there’s anticipation for a clearer direction and potentially more consistent activity.
New findings from the August 2024 RICS Residential Survey show an improvement in the UK housing market, partly driven by a slight fall in mortgage rates. This fall has stimulated buyer demand, leading to expectations of increased sales activity as more people take advantage of favourable conditions. House prices have seen their first positive growth since October 2022, suggesting a gradual recovery that may bring more stability to the market. In contrast, the rental market is facing tightening conditions, as tenant demand continues to rise while new landlord listings are dwindling, potentially resulting in higher rents in the coming months…
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