{"id":10501,"date":"2024-09-09T09:26:37","date_gmt":"2024-09-09T08:26:37","guid":{"rendered":"https:\/\/www.craneandco.co.uk\/pages\/?p=10501"},"modified":"2024-09-09T09:26:37","modified_gmt":"2024-09-09T08:26:37","slug":"what-the-latest-house-price-stats-mean-for-hailsham-eastbourne-homeowners","status":"publish","type":"post","link":"https:\/\/www.craneandco.co.uk\/pages\/what-the-latest-house-price-stats-mean-for-hailsham-eastbourne-homeowners\/","title":{"rendered":"What the Latest House Price Stats Mean for Hailsham & Eastbourne Homeowners"},"content":{"rendered":"

The UK housing market is experiencing a period of steady recovery, according to the latest data from leading property portal Zoopla.<\/span><\/h3>\n

The Zoopla House Price Index is a statistical tool used to measure changes in the price of residential properties.<\/p>\n

Along with other indexes, including ones created by Rightmove, the Land Registry and several mortgage providers, it\u2019s a helpful indicator of trends in the property market \u2013 and that\u2019s why homeowners should take note of it.<\/p>\n

Its latest headline stats were:<\/span> <\/strong><\/h3>\n
    \n
  • Buyer demand rises as mortgage rates fall.<\/li>\n
  • Mortgage rates fall to 4.5% for 5-year fixed-rate deals as the number of homes for sale hits a 7-year high.<\/li>\n
  • The average UK house price has risen by 1.4% so far this year and is on track to be 2.5% higher by the end of 2024.<\/li>\n
  • Meanwhile, buyer demand is up 20% on July 2023, as the number of sales agreed rises 25%.<\/li>\n<\/ul>\n

    The risks of overpricing your property<\/strong><\/span><\/h3>\n

    Despite the market\u2019s stability, sellers need to remain mindful of pricing strategies. In layperson\u2019s terms, beware of overpricing your property.<\/p>\n

    Overpricing can result in properties taking more than twice as long to sell.<\/p>\n

    Zoopla\u2019s data also shows that homes requiring a 5% or greater price reduction typically take longer to sell than those priced accurately from the outset.<\/p>\n

    The impact of mortgage rates on buyer affordability<\/strong><\/span><\/h3>\n

    As usual, the property market remains sensitive to mortgage rates. A positive was the Bank of England\u2019s 0.5% base rate cut last month. Future decisions around the rate will continue to impact buyer affordability.<\/p>\n

    As a result, we\u2019re encouraging sellers to consider setting realistic prices to attract serious buyers and ensure a timely sale.<\/p>\n

    We\u2019ll also be keeping a close eye on the next base interest rate decision to be announced by the Bank of England on Thursday 19 September.<\/p>\n

    Future market expectations and affordability concerns<\/strong><\/span><\/h3>\n

    According to the index\u2019s report, the housing market is expected to remain balanced, with steady price growth and continued demand driven by gradually improving buyer confidence.<\/p>\n

    However, affordability remains a key issue, with buyers looking for value-for-money purchases.<\/p>\n

    How we can help<\/strong><\/span><\/h3>\n

    We work closely with our sellers so that they can understand market dynamics and why valuing properties realistically achieves the best results in this constantly evolving market.<\/p>\n

    Contact us today with any questions on selling (or buying) a home this autumn.<\/span> <\/strong><\/h3>\n

    *Sources: Zoopla House Price Index \u2013 28 August 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

    The UK housing market is experiencing a period of steady recovery, according to the latest data from leading property portal Zoopla. The Zoopla House Price Index is a statistical tool used to measure changes in the price of residential properties. Along with other indexes, including ones created by Rightmove, the Land Registry and several mortgage […]<\/p>\n","protected":false},"author":3,"featured_media":10502,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[12,1],"tags":[8,25],"class_list":["post-10501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-moving-home-advice-and-guidance","tag-advice","tag-jerry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/10501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/comments?post=10501"}],"version-history":[{"count":1,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/10501\/revisions"}],"predecessor-version":[{"id":10503,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/10501\/revisions\/10503"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/media\/10502"}],"wp:attachment":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/media?parent=10501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/categories?post=10501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/tags?post=10501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}