We are nearly a month through a new year and things couldn’t be more different. It’s generally expected that there’ll be a market uplift in January once everyone has gotten the holidays out of the way, but with the downturn in the market as 2023 went on, it was difficult to be particularly optimistic. However, so far 2024 has bought lots of positivity. 

There’s been a surge of activity – more homes are coming to the market and buyers are once more out in numbers. Testament to the boost in activities, Mockford & Hunt are 59% up on sales agreed compared to the monthly average for the previous 3 months. For the same period, our new instructions are up by 52% compared to the same period. It’s a great indicator for things picking up after such a long time of negativity. 

We’ve had some great success stories by helping those who were on the market with other agents, too. Two properties in particular had spent the majority of 2023 on the market with other agents, frustrated and despondent. We reached out to them and heard what they had to say, how they felt and let them know how we could help. We were instructed to help them both just before Christmas with the intention to launch in the New Year - within a week of both of them being marketed we had them under offer. Two happy sellers and two happy buyers. 

Additionally, we are seeing a steady decline in mortgage rates. For the first time in a long time, we are seeing products available as low as 3.98% with certain Lenders and loan to values which is a welcomed relief! Hopefully this continues as other Lenders jump on the band wagon. If not, it’s a great opportunity to those remortgaging and buying alike to take advantage of these positive changes. We know that over at Prospect Tree Mortgages, they are happy to see things moving in the right direction and we couldn’t agree more. 

At Mockford & Hunt we are delighted to see how different the market conditions have been this new year. It’s certainly surpassed our expectations of what we thought January would bring and we really hope that it continues this way. Obviously, there is no predicting what will happen with the housing market (something we have all learnt from the highs and lows of the past 4 years), but for now at least… things are looking up!

With our increase in instructions and buyers it gives us more opportunity to help as many people as we can, which is exactly what we do best. To learn more about how we could help, contact us on 01233 367606.