Property experts predict key change in negotiating power for housing market in 2025
Property experts predict key change in negotiating power for housing market in 2025
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Property pundits are forecasting that 2025 will be a "buyer’s market" with house hunters wielding more power in negotiations and an increase in sales. However, they're also advising caution due to the end of a stamp duty discount in spring and the uncertain economic climate, which could affect the pace of potential interest rate reductions. Rightmove property expert.
Tim Bannister, a property expert at Rightmove, said: “We’re anticipating a stronger 2025, with higher price growth and more transactions than in 2024.”. He continued: “The year ahead is not without some caution. We think 2025 will continue to be a buyer’s market, which could provide buyers with more negotiating power, given the number of available properties per estate agent is at a decade-high for this time of year.
“There’s less competition amongst buyers than during the pandemic markets, which could provide them with some breathing room to choose the right home at the right price. “However, if the right property does come along, we wouldn’t advise waiting too long, as agents tell us that attractive homes, well-priced and in popular areas are still being snapped up quickly. Additionally, falling mortgage rates, which we expect to drop to around 4% by the end of the year, should improve affordability and sentiment.”.
