Property Market Insights January 2024

Welcome back to our industry insights monthly update. It’s the first one of the year and we're excited to share the insights that could shape your investment ventures in the coming months. 

With the next Bank of England base rate announcement due on the 1st February, property investors and developers should be acting now.

Following the previous UK base rate freeze, lending confidence was boosted which has encouraged lenders to enhance their products and offers. While the pool of potential purchasers previously seemed drained, buyers are now re-emerging in force, looking for their perfect match and we think the stars will be aligning again in the coming months.

We believe that now is the time to jump off the fence and make your next move in your property investment journey, but move quickly if you want to be ahead of the crowd!

A further look into the general market and activity in the sector...

Booming Buy-to-Let Sector

A remarkable trend in 2023 was the surge in new buy-to-let companies established. With more than 50,000 companies set up, this is just another sign that the buy-to-let market isn’t slowing any time soon.

Were you one of the 50,000?

Positive Trajectory for 2024

Despite fluctuations, the overall stability of house prices signifies the market's robust nature as we start 2024. This creates an optimistic backdrop for property investors seeking steady and reliable returns this year. Looking ahead, industry forecasts for 2024 are promising.

January 2024 House Price Index

The House Price Index for January 2024 showcases a number of factors on the up including the number of new properties coming onto the market for sale and the level of demand from those looking to buy a home is also up compared to last year.

Another optimistic indicator is the surge in individuals initiating the Mortgage in Principle process to gauge their potential borrowing capacity. Since the 27th of December, Rightmove recorded nine out of its ten most bustling days for Mortgage in Principle inquiries. If this trend persists, January is poised to become the most active month since the service's inception back in 2022.

We are BIG supporters of this early-year planning and would encourage you to jump on this for your investments too.

Property experts have been quick to respond to industry dynamics in the first month of the year. You can read them here and feel free to reply to this email with your take on the January 2024 House Price Index. We love to hear from you and share your thoughts with the team.

As we get settled into 2024, our commitment at REALM 47 is to empower you with the knowledge and insights needed to make informed decisions on your property investment journey. If you're considering new investments or have specific queries about the market trends, our team is here to assist. Connect with us to get in touch with the team today!