Haslams Residential Sales Market Insight Report for Reading Q1 2024

The sales market is stronger than in 2023 but green shoots are mixed with hesitancy from buyers creating inconsistent demand. Mortgage rates are the biggest influence – as they fell slightly in February our phones rang non-stop and we had our busiest month since the infamous Liz Truss budget. Yet as rates rose in March we saw buyers retreat slightly. There is good demand for well-priced stock but confidence is still a little fragile.

In this market, we are proud of achieving 97.89% of our asking prices from an average of 4 offers per property. Freehold properties are easier to sell than leasehold as the industry continues to grapple with the implications of ground rents and the Building Safety Act.

Values are broadly flat year-on-year as the Haslams Price Index illustrates, as do the national house indexes (both listed below). Looking forward, if inflation trends down along with the Base Rate, we expect more competitive mortgage rates to increase demand.

View our Lettings report here.

Dan Channer Managing Director – Haslams