Flintshire Market Update and Year Review - December 2023
Ben brings exciting news for Flintshire home buyers and sellers in his latest update. Watch the video or read on to find out more!
Market Highlights
🌟 **National Trends:**
In a merry twist of events, average new seller asking prices took a 1.9% sleigh ride downward. December typically sees prices drop, but this year's dip outpaces the 20-year average of 1.5%. Sellers are unleashing their competitive spirit!
📉 **On the up**
Comparing to this time last year in the local market things are hotting up with a significant increase in new buyers, viewings and new houses hitting the market.
🔍 **Mortgage Magic:**
The Base Rate held again at 5.25%, and mortgage lender rates are following. The best 5-year fixed rate has dropped from 6.11% in July to less than 5% now. Experts predict a base rate peak and anticipate a further drop in interest rates throughout 2024. Good news for the property market!
🏡 **Market Resilience:**
Despite uncertainties, 2023 sales are only 13% lower than the active 2022 market. Stable conditions recently hint at family movers making a comeback, putting mini-Budget fallouts in the distant past.
🏡 **Premium Selling: Unlock our tried and tested strategy**
Almost 40% of homes needed price reductions to sell - don't fall into the trap! Our tried and tested marketing strategy insures that we hit the market at the RIGHT price.
