Is the MK45 property market showing early signs of a rebound?
A sneak preview of our latest MK45 property market blog before it is featured in the Ampthill & Flitwick Life magazine. Read it first here.
As we navigate through the first couple of months of 2024, there are promising indicators suggesting a potential upswing in the local property market. While it might be premature to declare that the market has reached its lowest point, the initial signals are certainly encouraging.
When gauging the beginning of a market revival, we focus on three crucial indices:
- Year-on-year increase in registered buyers
- Year-on-year growth in the number of sales agreed
- Year-on-year rise in new properties coming to the market
With a focus on the MK45 property market we have recorded a positive trend In all three categories, with the most notable improvement observed in new sales agreed, boasting a 42% surge in the first two months of 2024 compared to the same period in 2023, in fact more properties sold in MK45 during January than in any single month since May 2022.
Here's a quick overview:
- Registered Buyers: +22%
- Sales: +42%
- New Properties to Market: +11%
While it remains to be seen whether this is a temporary bounce or the sign of a more robust housing market, these figures, based on a two-month snapshot, provide a promising outlook. It's essential to keep in mind that we'll need a few more months of data to determine the sustainability of this trend.
If you're curious about how these developments might affect the value of your own property, please don't hesitate to reach out. Feel free to give us a call on 01525 713111 or click here to book a free valuation.