click to enable zoom
We didn't find any results
open map
View Roadmap Satellite Hybrid Terrain My Location Fullscreen Prev Next

February Market Comment

Our February Market Comment

We may be experiencing a winter of discontent, with the cost of living crisis, strikes, and another interest rate increase, but whatever you might read in the press, we are finding the market to be remarkably resilient. We are negotiating a healthy number of deals and although buyer enquiry numbers are down slightly, this is off the back of that unrealistically high demand of the past couple of years, that sent property prices through the roof.

We also need to be careful how we interpret the headlines. For example, while the Bank of Englandbase rate rose to 4% earlier this month, the financial institutions are clearly convinced that this is a temporary situation, as evidenced their long-term fixed mortgage rates, which are actually coming down. 

Market confidence has been only slightly dented, and as interest rates have peaked so quickly, primarily to curb inflation (which they seem to be doing) so they are expected to fall in the foreseeable future. Remember that much of the inflation we have experienced can be attributed to global oil prices, which are now about a third lower than they were a year ago. 

Of course you can never plan to buy or sell at precisely the right time and as the legendary investor Warren Buffet said, “If you can buy or sell within 10% of the bottom or the top of the market respectively, you’re doing well”. 

Having said that, most people buying or selling now are less concerned about what the market is doing and are more interested in moving house for real reasons–schools, jobs, family, upsizing, downsizing, divorce, death and debt. These personal factors have a minimal impact on house prices but they do keep the market active. And activity is good for everyone. 

Much of the fallout from September’s mini-budget is now history and it will soon be spring, when home movers come out of hibernation once again. Now could be a good time to put your property on the market– so you can harness this activity slightly ahead of the rest of the market. It really could pay you dividends.

You’d be putting yourself in an excellent position as an under-offer buyer, with plenty of stock to choose from in the weeks and months ahead.

© Copyright 2023 Richard Rawlings except as excluded under licence.

Share this post

Other post in


Our February Market Comment It’s well known that confidence is key to a healthy property market. Or it used to be at least. The pandemic didn’t dent it – quite the opposite in fact, with the average house price having risen over 11% in the past year (Source: Nationwide). Could issues such as rapidly rising energy prices, an unstable government, uncertainty in the Ukraine, and

Read More »


A year ago, we predicted that 2021 would not be able to sustain the 7.3% house price growth experienced in 2020. Even the most bullish economists predicted no more than a 4.5% increase for 2021, yet, according to the Nationwide, 2021 closed with a 10.8% increase in the average UK property price.  Who’d have thought, during a severe pandemic, and as the effects of

Read More »


Thursday 16/12/2021 The Bank of England Monetary Policy Committee has today announced a rise in the bank base rate from 0.1% to 0.25%. This was surprising considering that they held off doing so last month when conditions we not dissimilar. Nevertheless, with inflation soaring over 5% (the target is 2%), the bank was bound eventually to do something in response to rising prices and

Read More »

Compare Listings