Interest rates and stamp duty have a huge influence on the property market. Recent changes have created both challenges and opportunities for buyers and sellers.
Interest rates
After several rises, mortgage rates have stabilised, but affordability is still tighter than a few years ago. Buyers are more cautious and are shopping around for competitive deals.
Stamp duty updates
Temporary stamp duty cuts have stimulated parts of the market, particularly for first-time buyers. However, landlords and second-home buyers still face additional surcharges.
What this means for sellers
- Pricing realistically is key.
- Homes in good condition still attract strong offers.
- Working with an award-winning agent ensures maximum exposure.
Buyers are still active, but sellers need a smart strategy to stand out.