Haslams Residential Sales Market Insight Report for Reading Q2 2024

The Reading sales market is flourishing with activity even if prices are broadly flat or slightly down year-on-year. The numbers tell the story: while the supply of homes increased by 6%, Haslams listed 26% more homes for sale and registered 32% more buyers than in the same period last year. This reflects strong demand below £400,000 and a pent-up desire from younger buyers to leave the rental sector and buy a home, with people moving from Uxbridge and Middlesex into Reading.

Mortgage rates are critical and influential. The higher the price of the home, the more mortgage rates affect purchasing power, and the top of the market has been slower. Large portions of buyers have accepted the ‘5% normal’ but buyers now have more choice than in January and a cut in the Bank of England base rate would be extremely welcome in August.

More investors are in the market compared to last year. Gross yields on investment properties or with tenants in situ are between 6% and 7%.

View our Lettings report here.

Chris Cullity Head of Residential Sales