Webbers Seasonal Housing Market Report Summer 2024

13th June 2024


Market Update


The UK property market is witnessing a steady recovery with increasing buyer demand, transaction levels, and prices. The economic landscape is improving, marked by a 0.6% growth in GDP between January and March 2024 and a drop in inflation to 2.3% by April 2024.


As a result, the Bank of England is expected to cut interest rates soon, possibly bringing the base rate to 4.5% by the end of 2024. This anticipated rate cut, combined with growing consumer confidence and a boost in mortgage approvals, is fueling optimism among buyers. Additionally, despite the upcoming general election on July 4th, market activity is expected to remain strong, with the sales pipeline already showing a 3% increase compared to last year.


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