Surge In UK Property Market Activity

This week, the UK residential property market is experiencing a notable surge in activity, driven by a combination of anticipated Bank of England interest rate cuts and impending stamp duty changes. Rightmove forecasts a 4% rise in average asking prices for 2025, marking the strongest prediction since 2021. The market is particularly buoyant as buyers rush to complete transactions before the stamp duty threshold for first-time buyers decreases from £425,000 to £300,000 on April 1st. This urgency has led to a 12% increase in new sales agreed compared to the same period last year, according to Zoopla. Despite these positive indicators, the market faces challenges, including concerns over high interest rates and economic uncertainty, which have tempered buyer confidence in some regions.

The Guardian