Property Market Update March 2024

This year is off to a fantastic start, with incredibly strong buyer activity. Agreed sales in February were 15% higher than 2023. Consequently, it’s predicted there’ll be a 10% increase in house sales in 2024 over 2023*

This maps for us at Kai Carter Estates, we’ve got buyers asking us to actively seek out the right property for them as they can’t always find what they want online. So if you’re thinking of selling, please get on the market, the demand is there!

Mortgage rates have stabilised which has given buyers confidence to upsize or get on the property ladder. While interest rates are of course higher than they were a couple of years ago, they’re still relatively low, with very competitive longer term fixed rates.

We have noticed, over the last 18 months that properties requiring work are a tougher sell. This is largely due to the significantly increased cost of renovating and the difficulty in finding good tradespeople. Therefore, anyone selling a property that needs work, even a cosmetic makeover, should talk to an agent the minute they’re thinking of selling. We can advise you on what to focus your time and effort on for minimum cost and maximum return.

In the last few weeks we’ve seen an unprecedented increase in enquiries from sellers looking to put their homes on the market, which tells us we’re in for a very busy spring market.

As always, we present properties to the highest standard to achieve the strongest price and the best chance of a successful sale. So if you’re considering selling, call us without delay.

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