MARCH 2025 | PROPERTY MARKET REVIEW
Over the last few months, the prospect of a rise in Stamp Duty in April has had exactly the effects that one might have expected: a rush at the beginning of the year to complete before the deadline, followed by a modest decline in sales activity later on, when it became increasingly unlikely that transactions would be completed before the introduction of the higher rate.
Those difficulties have recently been compounded by what Rightmove has called a “massive log-jam” of more than 575,000 transactions caught up in conveyancing. Nevertheless, activity levels remain far above where they were this time last year, with a 10-year high in the number of sellers coming to market.
Asking prices and transaction rates often follow similar trajectories, so a busy market bodes well for investment conditions beyond April. Certainly, capital growth rates remained relatively strong in March, especially in more affordable markets. However, regional disparities have been much less evident in terms of rental gains, which have been comfortably inflation-beating in virtually all parts of Britain.
Darren Bennett
Managing Director
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