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The outlook for the homes market 2024?…. tough and uncertain ….and pressured too …..or so it would seem!


Off we go..on into another year then… we at Mint have - in recent weeks - been pondering between us as to what the overall outlook just might be for the year ahead - ....we reckon it’s a tough one to call ……


sales-price’ added value


We, as a business, still feel that a home project to potentially add sales price value WILL indeed still be very worth considering for most homeowners, in order to help ease some of the probable financial pressures likely to be encountered when trying to guess the potential home moving outlook in terms of pricing and feasibility in the immediate and indeed beyond the early Spring of the current year. For sure it’s all something of an uncertainty and quite a challenge too, it would appear.

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remaining static?


We have been scouring key property 'price outlook' views online. We noted, as we reviewed various sources, some respectful, informed, well-considered outlook views from the Nationwide organisation …. one of the UK's largest mortgage lenders here in the UK of course! They suggest that house prices - as they see it - are expected to remain static or even fall again this year.... after a drop of 1.8% since the end of 2022,.


rapid re-bound


Nationwide add that… a rapid rebound in prices is "unlikely" in 2024 after the fall recorded from December 2022 to 2023….Reports Robert Gardner, their Chief Economist ….’It appears likely that combination of solid income growth, together with modestly lower house prices and mortgage rates, will gradually improve affordability over time, with housing market activity remaining fairly subdued in the interim".


sluggish


The economy remains sluggish and if mortgage rates moderate only gradually, as we expect, house prices are likely to record another small decline or remain broadly flat (perhaps 0 to -2%) over the course of 2024.” (Much to think of there... one might suggest !)


Extend Now - Move Later?


From our specific viewpoint, there may well be - for sure - much more food for thought referencd our - Mint Builders - 'Extend Now - Move Later' message which will indeed be a key necessary impact reference worth considering as the year moves on into the Spring, now seeming not so far away. Time will tell of course …fingers crossed perhaps!


consider carefully …of course!


Best …best New Year .....and good luck with YOUR home moving or home extending plans….time to consider carefully ….we would suggest! We are on hand though, of course, to help and guide you with your home project planning and activity,whatever you do indeed decide is best for your own personal situation and circumstances during this key earlier part of this uncertain - even confusing -

year of 2024. Good luck to all - one has to say! It seems there's a lot of guessing

to do - to an extent, at least!


We at Mint Builders are, of course, here to help locally with all kinds of questions and ideas and much practical advice too relating to your new home project and plans. We can assist with your 2024 home renovation priority planning and project organisation of all kinds to help add key sale price value to your home for a 'later on' home sale as the ticks on into the Summer.


Feel free to request our project planning and quotation visit to refurbish or extend your home for more energy saving ‘liveability’ and vital increased future protective money-making ‘added sales value’, still as vital as ever it would seem now. Contact Mint Builders on 07734 211958 or drop us an email - here to help of course!




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