The MK45 Property Market in 2024 – And My Predictions for 2025
The MK45 property market thrived in 2024, driven by falling interest rates and growing buyer confidence. Sales rose, price reductions dropped, and properties sold closer to asking prices. As we enter 2025, early trends point to a shift toward a seller’s market with modest price increases on the horizon. Read our January market update for more info
The MK45 property market performed impressively in 2024, reflecting growing confidence among buyers and sellers. To understand the trends, I’ve been tracking three key indicators: the number of new properties listed, the number of sales agreed (subject to contract), and the number of price reductions. These metrics help provide a clear picture of local market dynamics and confidence levels year on year. As you can see on the graph below, the number of newinstructions remained steady however we saw a large increase in the number of sales agreed and a huge decline (38.5%) in the number of properties reduced.
Last year, we saw significant improvements across the board. Interest in properties increased, as did the number of offers and sales. This growth was partly due to economic shifts, particularly in interest rates. After the Bank of England’s base rate peaked at 5.25% in 2023, it gradually declined to 4.75% in the second half of 2024. Mortgage rates also eased, moving from around 6% to between 4% and 4.5%. These changes made borrowing more affordable, fueling buyer confidence and accelerating market activity.
The data paints a clear picture of this resurgence. Despite the number of new properties coming to the market remaining steady, we saw a noticeable uplift in sales. Perhaps even more telling was the reduction in price adjustments, indicating that properties were selling closer to their asking prices—a key sign of a robust market.
Looking ahead to 2025, this positive momentum appears set to continue. Early indicators show an increase in viewings and a high volume of offers. If this trend persists, I anticipate the market shifting from a buyer’s market to a seller’s market, with competition driving slight price increases throughout the year. For sellers, this presents an excellent opportunity to secure strong offers.
If you’re considering a move, are curious about the local housing market, or would like a valuation of your property, feel free to reach out to me. You can call me on 01525 713111 or email me at stuart@lovehomes.uk. Whether you’re buying, selling, or simply looking for advice, I’d be happy to help you navigate the MK45 property market with confidence.