Autumn Property Market Report 2024

26th September 2024

Autumn Property Market Report 2024

Autumn is now firmly with us and that usually means an upswing in the property market after a summer slowdown. 2024 has so far confounded the doom and gloom predictions at the start of the year, in fact we've seen a very strong market both locally and nationally.

The latest industry benchmark data from Rightmove shows the positive momentum is continuing and if anything it is actually picking up even more speed. 

The traditionally busier autumn market has started early this year as last month saw good news in almost every corner of the property market. 

Asking prices up

September saw average new seller asking prices rise by 0.8%, according to Rightmove. We usually expect a monthly rise in prices after the summer but this year it's double the long-term average, which is a clear indicator of where things are headed in the run up to Christmas.

Sales agreed are up by 27% year on year too, which means prices holding up are not putting off buyers. In fact more positive news for future sales is that the number of potential buyers contacting agents was up by 15% compared with September last year.

More choice

With all this good news for sellers there are also positive takeaways for buyers too. New sellers coming to market are up by 14% on this time last year, with the result that the average number of homes for sale per estate agent is at its highest level for ten years.

When there's more choice it does mean buyers can take their time and currently the average time for a seller to find a buyer is 60 days. Of course, if a property is priced keenly and a buyer wants to make sure they have the best chance of securing their dream home things can move a lot faster too. 

Greater affordability

Although the recent first rate cut by the Bank of England definitely had a positive effect, the average 5-year fixed mortgage rate still stands at 4.67%. This is far lower than the peak of 6.11% in July 2023 but it's worth baring in mind that it's almost double the 2.34% rate that you could find this time three years ago. 

However, with most commentators forecasting further BoE rate cuts sooner rather than later, mortgage rates are heading downwards and are likely to continue to do so over the coming year.

Another major factor that will benefit the property market is that earnings are now rising faster than both inflation and house price growth, combining to offer greater affordability for many buyers.

The last quarter

So now that we are in the last quarter of what has been a very busy year we wait to see if the new Chancellor's Autumn Statement on October 30th will have any announcements that affect the market in any significant way.

In Brighton and Hove we're seeing a reflection of the national figures and trends, although things here are always skewed a little by the fact that the local market is always busy.

Quite simply, people want to live here and it's what's happening at a local level that affects you if you want to sell or buy a home.

We continue to work across the whole of the city as we have done for a quarter of a century, while our office in Lewes Road maintains its status as the busiest and most successful in the immediate area.

So if you're interested in selling or buying a Brighton or Hove home talk to us - we are this city's experts!

Call 01273 677 001, email [email protected] or pop into our central office on Lewes Road to have a chat in person.

Testimonials

  • Paul was absolutely brilliant. 

    Mrs Tasker Brighton

  • I have bought and sold 7 properties, and this was the best experience of an estate agents services I have found.

    Mrs Shepherd Brighton

  • Maslen's were extremely helpful and profession...

    Bridget Allen Brighton

  • Had a great experience with the purchase of ou...

    jennifer Willson Brighton

  • Thank you Maslens, you were all excellent!

    Miss Jasper Brighton

  • Estate agents generally have bad reputations b...

    Dan Harris Brighton

  • I found the service to be courteous, friendly and efficient.

    Mr Upton Brighton

  • Good team. Straightforward. No nonsense.

    Mr Standing Brighton

  • The team worked very hard over a long period to ensure my sale went through - excellent service!

    Mr Patrick Brighton

  • Very helpful and patient team.

    Mrs Shea Brighton

  • All staff extremely helpful and polite. They made our move very smooth and less stressful.

    Mr & Mrs Gosling Woodingdean

  • This was the best experience I’ve ever had of estate agents. Professional, calm and understanding.

    Elinor James Hove

  • Donna was such a friendly and helpful support...

    Victoria Lander Brighton

  • Quality advice about when and how to sell, which was spot on. Thank you.

    Miss Coleman Brighton

  • Very thorough & very informative.

    Mr Michnowicz Brighton

  • Thanks for all your help and assistance. Very friendly and professional service.

    Lisa Downary Brighton

  • From first valuation to completion day the Mas...

    Sam Brighton

  • All very professional, kept updated throughout. Very pleased - Would recommend. 

    Mrs Hammond Brighton

  • Very comprehensive and professional. Nice people to work with and highly recommended. 

    Mr Alderton Brighton

  • The staff were very helpful, an excellent service. I would recommend you to others.

    Miss Hockly Brighton

  • The team provided the best service I have ever received from an estate agent. I would not hesitate to recommend them to anyone.

    Nicki Myers Woodingdean

  • The sale was dealt with swiftly, professionally and successfully. Thank you Maslen!

    Mrs Lincoln Brighton

  • Excellent communication and advice throughout. It felt very reassuring to be in good hands.

    Mrs Brooker Brighton

  • A very committed team who made the sale process very easy.

    Ms Rees Brighton

  • The whole team were very committed from start to finish.

    Mr Pilgrim Brighton

  • We were delighted with the service received from all the staff with whom we had contact,

    Dr Crichton Brighton

  • In my situation, moving the sale of my home to Maslen Estate Agents really was a case of third time lucky!

    Lise Henderson Hove

  • Everyone at Maslen's were amazing, from Sam's...

    William Slingsby Brighton

  • Sold within 2 weeks for asking price "excellent!"

    Mr Grundy Hove

  • A completely painless experience from start to finish. Thank you.

    Mr Woolven & Mrs Bessant-Woolven Brighton

  • In what could have been a very stressful situation it has been a pleasure dealing with you and I can’t speak highly enough of the service provided.

    Gill Frost Hove

  • It was an amazing experience, everyone involved were fantastic. 

    Mr & Mrs Knight Brighton

  • Superb service as usual, I would always recommend you.

    Ms S Hike Brighton

  • I would recommend Maslen to anyone. 

    Mrs Tripp Brighton

  • From start to finish the sale was dealt with in a thoroughly professional manner.  

    Mr Gibbs Brighton

  • You are the best estate agent I have ever dealt with and we will be recommending you to anyone moving!

    Hazel Young Hove

  • An efficient, professional and friendly service. Helpful and a pleasure to do business with.

    Mr Beddington Brighton

  • Very polite, good communication, excellent service.

    Alicia Van der Sluis Surrey

  • First class service from a first class team.

    Mr & Mrs English Brighton

  • Excellent Service from start to finish.

    Mr T Mole Hove

  • Delighted with the service provided. Very professional and skilful.

    Nicky Conlan Hove

  • All agents at Maslen were extremely helpful and polite from the beginning to the completion of sale. 

    Mr Johnson Brighton

  • I was new to the area and viewed a lot of properties with a lot of different agents. Maslens were by far the best I came in contact with, so when i...

    Mr & Mrs Heer Brighton

  • Excellent customer service throughout. I will definitely recommend you, and use you again. Thank you.

    Ms Longley Brighton

  • These guys are the real deal, highly experienced, no nonsense, honest and by far and away the most reliable we have encountered. 

    Sarah Studd Hove

  • You were amazingly helpful throughout - a real pillar of strength with a very difficult sale.

    Mrs Parkin Brighton

  • Very pleased with the experience. I would definitely recommend you and use you again.

    Ms D Edmonds Brighton

  • Best Estate Agents ever experienced - professional, approachable, competent and exemplary. 

    Mr & Mrs Guest Brighton

  • Very happy with the service we got from you guys, everyone we dealt with was extremely friendly, professional and helpful. Thanks!

    Mr Brown Brighton

  • Very pleased with the excellent service throughout. Professional, friendly, efficient and no hard sell. Achieved above asking price. Thank you!

    Mr Witten Brighton

  • Thanks for an excellent service. 

    Mr King Brighton

  • Thank you for everything!

    Ms Tucker Brighton

  • All the staff were professional, cheerful and supportive throughout the long process.

    Mr R Turner Shoreham

  • Fantastic service. By far the best agents we have ever used, I cannot recommend you highly enough.

    Mr Field Brighton

  • Maslen's were very good at keeping in touch an...

    Penny Ashby Brighton

  • Very, very happy we chose you, felt right from the start! Thank you!

    Miss Blackadder Hove

  • Thank you to all the team at Maslen, especiall...

    Gabrielle Gardner Brighton

  • Service exceeded my expectations overall at all stages of the process - I wouldn't hesitate to recommend you. Thanks. 

    Ms Greene Brighton

  • Thank you for your service, I would (and have) recommended you to my friends.

    Liz Dean Brighton

  • The best estate agents we have ever used. Friendly, efficient and above all truthful! You are in danger of giving estate agents a good name!

    Jacquie Ellis-Jones Shoreham

  • Great service, always polite and friendly. Excellent contact and info all the way.

    Mr Wells Hove

  • I wish we had used you to sell our property! Nice to meet honest people, who are genuinely interested in helping. Very pleased.

    Mrs Porter Brighton

  • Paul Wilkinson was extremely helpful and efficient. The only problem was the vendors solicitor and Paul warned me of this. A good transaction all r...

    Mr Lavender Brighton

  • I found everyone helpful, positive and courteous.

    Jean Wooldridge Evesham

  • First class service. Friendly and professional.

    Mr Thorne Brighton

  • Best Agents in Brighton.

    Mrs Field Brighton

  • Your advice, support and understanding whilst dealing with the property were invaluable, making everything so easy.

    Janine Suttner Brighton

  • As always, an excellent service. 

    Mr & Mrs Field Brighton

  • Already recommended you! Thank you.

    Mr Edwards Brighton

  • Really pleased with the service and will definitely recommend to others.

    Ruth Kendall Brighton

  • A really good experience.

    Mr Tibble Brighton

  • Thank you. We found all the staff knowledgeable and really pleasant to deal with. 

    Ms Ansloos Brighton

  • Maslen's were amazing estate agents. Through,...

    Sarah Goodfellow Brighton

  • Several leagues above any other estate agent I have had contact with. Kept fully informed every step of the way.

    Paul Cade Haywards Heath

  • Compared to your rivals, your service was excellent

    Ms McGrigor Brighton

  • Maslen made the selling of my flat as easy as...

    Victoria Bradley-Barnard Brighton

  • It was a long, drawn out process that the people at Maslen helped me through, without the impression that it was a chore. So extremely professional...

    Mr McLagan Brighton

  • Very impressed with the efficient and friendly service, the staff were a pleasure to deal with. 

    Mr & Mrs Gill Brighton

  • Very professional and friendly. The only estate agents I would trust and recommend.

    Jean Hurley Brighton

  • Please thank Paul at Lewes Road - Excellent service. 

    Mr & Mrs Nuthall Brighton

  • Donna was our vendors sales progressor. We cou...

    Allan Da Silva Brighton

  • Excellent service as always

    Mr Field Brighton

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