Haslams Residential Sales Market Insight Report for Reading Q4 2024

The residential sales market showed strong growth in the last quarter of 2024, with sales volumes up 55% year on year, and new listings increasing by 40%. A key driver was the rush of first-time buyers eager to secure savings before the stamp duty relief threshold drops from £425,000 to £250,000.

Mortgage rate instability and economic uncertainty dampened buyer confidence elsewhere in the market, and affordability remains challenging. Despite the rise in activity, sellers had to price their properties sensibly and remain flexible, resulting in a flattening of home prices, with some vendors choosing to sell via online auction with Haslams to assure certainty with their sale. A positive trend was a 74% increase in exchanges, as solicitors and mortgage companies worked hard to clear their backlog.

Looking ahead to 2025, the market faces potential challenges, particularly with inflation and the possibility of lower interest rates. A positive shift from mortgage lenders could help counteract any decline in sales due to the upcoming stamp duty changes on 1 April 2025.

Read our Lettings Sales report here or scroll down to continue to read our Residential Sales report.

Chris Cullity Head of Residential Sales