DECEMBER 2024 | PROPERTY MARKET REVIEW
In our market review of December 2024, we look back on noteworthy surveys and reports, significant policy decisions and other developments affecting the UK residential property sector.
Although inflation rose again this month, investors have not had to contend with a return to higher interest rates. The Bank of England held the base rate unchanged and, in 2025, mortgage interest rates are widely expected to fall. The Bank’s governor said that interest rates would likely continue downwards, but that economic conditions would necessitate “a gradual approach”.
The sales market has remained buoyant, supported partly by improving real incomes and, almost certainly, by a desire to complete transactions before April’s hike in Stamp Duty Land Tax. The extra momentum has helped to keep average prices rising faster than inflation in most regions and, on average, investors will also have seen real-terms gains in terms of rental growth and yields
Darren Bennett
Managing Director
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