{"id":5058,"date":"2024-10-22T13:34:21","date_gmt":"2024-10-22T12:34:21","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=5058"},"modified":"2024-10-22T13:36:13","modified_gmt":"2024-10-22T12:36:13","slug":"is-a-housing-market-revival-on-the-cards","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2024\/10\/22\/is-a-housing-market-revival-on-the-cards\/","title":{"rendered":"Is a housing market revival on the cards?"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>The summer housing market was positive, helped by confidence after the General Election and a reduction in Bank Rate, but what does the future have in store?<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>The outlook for buyers<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Rightmove\u2019s Property Expert, Tim Bannister, observed, \u201c<em>The conditions are there for a more active autumn market.\u201d<\/em> Rightmove predict that, by the end of 2024, house prices will be 1% higher than they were the previous year<sup>1<\/sup>. Meanwhile, Zoopla expects mortgage rates to stay around 4% to 4.5% for the rest of 2024. It is thought that wages will rise while house prices remain consistent, improving buyer affordability.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Rental inflation slowing<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Rents are now rising at their slowest rate since 2021<sup>2<\/sup>. Predictions suggest a 3 to 4% increase overall in 2024, compared to annual increases of 8% in 2023 and 11% in 2022.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>2025 and beyond<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Looking ahead, experts predict the market to continue a slow but steady recovery. Zoopla\u2019s Executive Director of Research, Richard Donnell, commented, \u201c<em>Economists currently expect base rates to fall to 3.5% by the end of 2025, which would imply mortgage rates remaining in and around the 4%+ range.\u201d<\/em>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>In terms of broader trends, it is expected that energy efficient homes and houses located near public transport will continue to be highly sought after. Employment flexibility widens the search area in terms of where people are looking to move and achieve the quality of life they want.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>Rightmove, 2024, <sup>2<\/sup>Zoopla, 2024&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong><em>It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.<\/em><\/strong>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The summer housing market was positive, helped by confidence after the General Election and a reduction in Bank Rate, but what does the future have in store?&nbsp; The outlook for buyers&nbsp; Rightmove\u2019s Property Expert, Tim Bannister, observed, \u201cThe conditions are there for a more active autumn market.\u201d Rightmove predict that, by the end of 2024, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":5059,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,76],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/5058"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=5058"}],"version-history":[{"count":4,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/5058\/revisions"}],"predecessor-version":[{"id":5063,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/5058\/revisions\/5063"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/5059"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=5058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=5058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=5058"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=5058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}