5 Reasons Why Now Is the Perfect Time to Buy a Home

If you’ve been considering making a move, this autumn presents an exciting opportunity for home buyers. With more homes available and competitive pricing, buyers are in an excellent position to find their dream property.

Autumn is traditionally one of the busiest times for the property market. Many people take advantage of the window between the summer holidays and the festive season to search for their next home. This year is no exception, with a surge in activity. Sales agreed are up 29% compared to last year, and buyer inquiries have increased by 17%. While the market is busy, it’s a calmer environment than the post-pandemic rush, giving buyers more time to make informed decisions.

Here’s why it’s a fantastic time to buy:

1. Modest House Price Growth Offers Affordability

House prices have risen modestly by 0.3% this month, which is lower than the typical 1.3% increase we usually see in autumn. This gentle price growth means homes remain affordable, providing buyers with better value. If you're curious about your property’s current value, our instant valuation tool can give you an estimate in seconds.

 

2. Competitive Pricing from Sellers

Sellers are keen to attract buyer interest, which means many are pricing their homes competitively from the start. This helps buyers secure a great deal, as there’s less pressure to negotiate down the line.

3. More Homes to Choose From

The number of homes for sale is 12% higher than a year ago, giving buyers plenty of options. This means you can take your time and find the perfect home that ticks all the boxes. With the average number of listings per agent at the highest level since 2014, the variety on offer ensures there’s something for everyone.

4. Buyers Can Take Their Time

With more homes available, buyers are not rushing decisions. The average time it takes to sell a property has increased slightly to 61 days, giving buyers the luxury of time to compare options and make thoughtful choices.

5. Affordability Pressures Are Easing

Although mortgage payments are still higher than they were in 2019, they’ve decreased by £150 since last year’s peak. Energy prices have also stabilized, offering more financial predictability. Many buyers are moving ahead confidently, while others are awaiting potential further reductions in mortgage rates following the government’s Autumn Budget.

What’s Next for the Market?

As we look ahead, there are two more Bank of England interest rate decisions before the year ends, along with the upcoming Autumn Budget announcement. Both could influence market activity in 2025.

In short, the current market offers buyers a fantastic opportunity to find their next home at a great price. With more properties available, competitive pricing, and potential for even better affordability ahead, now could be the perfect time to start your property search.

Adapted from Rightmove