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My 2024 property market predictions

Dec 27, 2023

I thought we'd try something different this week. Rather than me regurgitating the week's property news, I'm going to give you my own predictions for the property market in the new year.

Am I right, am I wrong? let me know by emailing me [email protected]

**1. It's a buyers' market; welcome back** 

That's right friends, the tables have turned. They buyer is once again back on top. Plenty of choice, price negotiations, look forward to more of the same in 2024. A great time to add to the portfolio.  

**2. Asking prices decline slightly** 

 Expect average asking prices to drop by around 1% (according to Rightmove) as sellers compete to sell their properties. I don't forsee a bigger drop than this as demand for housing in the UK remains strong. 

**3. Interest rates remain high** 

Signs are that the Bank of England Base Rate has peaked and is expected to hold steady for 2024. Good for investors and developers to arrange finance without fearing the sharp increases experienced at the beginning of 2023. High and steady over low and volatile.

Whatever the conditions, as property professionals, we have to learn to adapt to market conditions, be prepared to pivot on strategies and embrace the changes in the market. 

I, for one, will be using 2024 to build and sell more new developments (54 plots in the pipeline) and add to my buy to let portfolio after taking a year out while the market went crazy.  

I'd love to hear your plans for 2024. 

p.s. you might have noticed on my socials that as of January 2024 I'm offering developer mentorship/coaching. If you're ready to make moves in 2024, I'm here to support you. 


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