Whats happening in the property market this November?

The property market is experiencing significant momentum, with the number of sales agreed up 26% compared to this time last year, alongside a 6% rise in new sellers entering the market. This surge in activity reflects growing confidence among buyers and sellers alike.  

This growth is fueled by the easing of mortgage rates, which are unlocking pent-up demand and encouraging more people to take the next step on their property journey. 

Regionally the West and East Midlands has seen a 1.7% and 2% increase respectively in average property prices since last year. This takes the figures to £288,048 and £286,838 respectively.  

More specifically within our market, John Shepherd has achieved a remarkable 72% increase in sales between January 1 and October 31, 2024, compared to the same period last year. This highlights the continued strength of the market in our operating areas and reflects the team's commitment to delivering exceptional customer service. 

Looking ahead to 2025, Rightmove forecasts a 4% increase in average asking prices; their most optimistic prediction since the pandemic-driven surge of 2021.  

Have you got a property you're thinking of selling? Now could be the perfect time to get your property valued. Contact us today for your free valuation.