MARKET COMMENT, NOVEMBER 2024

Despite the much-hyped build up to October’s budget, the announcement today of a cut in interest rates of .25% to 4.75% spells good news for the housing market, which, together with some pundits forecasting an almost 25% increase in property prices over the next five years*, fuelled by cheaper mortgages, supply and demand, all adds up to a busy time ahead.

In October alone we took four reservations from buyers new to the Winchester area while exchanging/completing on 11 new homes.  November shows signs of being equally positive with two completions already in hand.

Sales Manager Kelly Hindley commented that “pre the budget, like many, we had anticipated a slowdown in the market, but I’m delighted that our sales rates have remained buoyant and that we have welcomed so many new buyers to the ‘Alfred’ family. Today’s interest rate drop is excellent news, which will undoubtedly increase transactions at the lower end of the market, activity that will have a positive impact within our market segment. 

The interest and popularity of Winchester and in the product that we build remains high and with only a very few homes to sell at our three live sites, plus the fact that we are already talking to prospective buyers about our 2025/6 projects, means we’re already looking forward to an exciting time ahead.”

Pictured: homes at Sparsholt, Winchester.

Source: Moneyweek.com/Savills