As we prepare for 2025, the property market outlook shows positive momentum despite recent dips in asking prices. November saw an average price of £366,592, a 1.4% decrease from October, as sellers adjusted to attract buyers before Christmas. However, buyer demand rose by 23% following the latest Base Rate cut to 4.75%, and sales agreements increased by 26%, signalling renewed confidence.
Rightmove predicts a 4% rise in house prices over the next year, bolstered by improved affordability as mortgage rates gradually decline. This is encouraging news for buyers who delayed their plans in 2024.
Tim Bannister, a market expert, highlights that continued reductions in mortgage rates could drive a robust property market in 2025, particularly in traditionally active periods. For buyers, the combination of more affordable borrowing options and increased housing market activity presents a promising opportunity.
Key Points for Buyers
- Current Trends: November’s average house price is £366,592, with sellers adjusting prices to meet demand.
- Increased Activity: Buyer demand is up 23%, and sales agreements have risen 26% compared to last year.
- Predictions for 2025: House prices are forecast to rise by 4%, driven by lower mortgage rates and strong market activity.
- Opportunities for Buyers: Gradual reductions in mortgage rates enhance affordability, offering a favourable time to move.
Why Choose Skipton Properties?
As a family-run housebuilder, Skipton Properties is committed to creating exceptional homes with expert craftsmanship and thoughtful design. When you choose a Skipton Properties home, you’re not just buying a house; you’re investing in a community-focused lifestyle, innovative design, and quality that lasts. With exciting developments like The Willows and Pendle Farm, 2025 offers the perfect time to secure your dream home in a thriving community.
Explore our homes today and take the first step towards your next chapter!
Pendle Farm – Worsthorne
Bolton Gardens – Silsden
Croft Mill – Foulridge
The Alders – Skipton
