From Paul Doyle Branch Manager at H&H Land & Estates
The rural and semi-rural property market in 2024 has been defined by a price-sensitive climate, with properties that are priced attractively drawing strong interest in terms of viewings and offers. However, the average time on the market has increased compared to previous years, reflecting the more cautious approach of buyers, especially in the lead-up to the General Election and the Autumn Budget. Despite this, the market has continued to attract buyers from outside the area, including those moving from cities, reaffirming the ongoing appeal of rural living.
Following a slower-than-expected late autumn, we expect the market to pick up quickly in January, as buyers take advantage of a more stable post-election and post-Budget environment.
I would anticipate that there will be the ongoing demand for rural and semi-rural properties, with buyers continuing to look beyond urban areas for their next investment.
A key factor that has shaped this year’s property trading has been pricing. Properties listed at competitive prices have performed well, while overpriced listings have struggled to generate the same level of interest. This trend emphasises the importance of an accurate pricing strategy in the current market.
Zoopla reported that 1.1 million properties were sold in 2024, a 10% increase from 2023 and that the average asking prices were for 1.2% higher than in 2023. So, looking ahead, the outlook for 2025 is positive, with a strong housing market predicted over the next 12 months. With interest rates expected to decline, we are optimistic about the potential for growth and increased activity in the early months of the year.
However, without a doubt the key to success will lie in each individual property’s pricing strategy and the expertise and commitment of the professionals involved, both the estate agent and acting solicitors.
We have a fantastic property team here in Carlisle and over the last 12 months, the agency has received more than 20 five-star reviews, underscoring their commitment to exceptional service.
Earlier this year we were delighted to welcome a new team member, Sian Wilson, who has quickly proven herself to be an integral member of the team. Sian’s ability to connect with both sellers and buyers has been reflected in the outstanding reviews she has received, with clients praising her professionalism and local knowledge.
So as we look forward to the festive season I would like to take this opportunity to thank everyone for their support and we look forward to a prosperous 2025 for the property market here in North Cumbria.