January 2024 Property Insight from Manns & Manns Estate Agents in Bursledon, and the areas of Southampton on the banks of the River Hamble
Property transactions have started to increase in and around Bursledon and the local areas, as confidence in the market continues to grow.
It has been a tough 14 months for the property market, sluggish transactions amongst a financial crisis had a huge effect on homeowners in general. However, in December 2023 we experienced a significant increase in valuations and sales agreed. We have also noted a good level of first-time buyers entering the marketplace, despite the higher mortgage rates.
The confidence is building as more people want to move forward with their plans for a new home in 2024. We have experienced buyers registering at a much higher rate in recent weeks, which is great news for sellers that have felt deflated in recent months.
Across the country residential transactions were approximately 22% lower in November 2023 compared to November 2022. The slowdown was mainly caused by the shock of interest rates rising at a rapid rate, compared to incredibly low-interest rates the public had become accustomed to in recent years.
As inflation falls, demand will strengthen and normality will soon return to the general property marketplace. It is interesting to know that in general there is a high level of homeowners that either own their homes without any borrowing or have low LTV (Loan To Value) mortgages due to tougher mortgage stress testing in recent years. This has avoided steeper price declines, a low level of repossessions and allowed interest rates to normalise as we are now witnessing.
In our opinion, this is one of the most responsible decisions made in the lending sector.
To help buyers we have access on our website to stamp duty calculators (Remember if you are a first-time buyer you are still exempt up to a purchase price of £500,000), a mortgage calculator to give you a general guide when looking at purchase prices and some helpful tips.
In addition to this we have an instant online valuation tool for sellers, so you can work out approximately the value of your home. For a more accurate valuation please contact our office to arrange a full market appraisal on 02380 404055, or Contact Us here.
Recent listed Properties –
Manns and Manns are thrilled to market this impressive, five-bedroom detached house nestled in a quiet cul-de-sac location and boasting a private, heated swimming pool. Situated close to the River Hamble and beautifully maintained by the current owner. An early viewing is highly recommended to appreciate the accommodation on offer… Learn more
Charming 18th century, grade II listed cottage situated on the banks of the River Hamble, offering enviable waterside views from the delightful terrace. Nestled in a sought-after location, adjacent to the Village Green and close to Hamble Common, marinas and the Royal Southern Yacht Club. Offered with no forward chain… Learn more
Rare opportunity to acquire this incredible detached character home standing at over 2,000 sq ft within sizeable grounds, that have beautiful gardens & a delightful woodland area. It is situated in a most desirable leafy lane within Old Bursledon and nearby to the picturesque River Hamble. Off road parking for multiple vehicles… Learn more
Rare opportunity to acquire this superb waterside detached dwelling, situated in arguably one of the most sought after locations on the south coast with panoramic views of the River Hamble from many rooms and front garden. Enclosed rear garden, off road parking & space for a boat… Learn more
For more information on any of our properties please contact us.
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