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The UK housing market has always been subject to government policy announcements, outside forces of economics, and consumer confidence fluctuations. After a turbulent 2024, there is evidence that 2025 will provide more stability and growth—particularly in areas such as Wolverhampton, where affordability, high demand, and improved financial situations are coming together to create a helpful background for sellers and buyers alike.
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Last week, the Bank of England's interest rate dropped to 4.5%, marking its third cut in under a year. This decision follows a previous reduction in November 2024, with the rate remaining unchanged in December. While most of the Bank’s policymakers supported the move to 4.5%, a minority favoured a more aggressive cut to 4.25%, highlighting the ongoing uncertainty surrounding the UK economy.
The decision is widely seen as a positive step for the housing market. Lower borrowing costs could improve affordability, boosting confidence for homebuyers and those looking to remortgage. Activity levels in the property sector have already shown improvement, with increased buyer registrations at the start of the year. However, while sentiment may improve, the immediate effect on mortgage rates is expected to be gradual as lenders respond cautiously to the new environment.
The trajectory of further interest rate cuts will depend on broader economic stability. Although inflation is lower than last year, it remains a key factor influencing future monetary policy. While there is optimism that additional cuts could follow in 2025, economic volatility means nothing is guaranteed.
The latest rate cut is expected to boost confidence in the property sector.
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Welcome back to news of Wolverhampton's property market, where each week we bring you different local property market stats and trends. This week we are back again with the February's £/sq.ft statistics.
The average property presently in Wolverhampton is on the market for £271 per square foot, a figure representing the current heartbeat of Wolverhampton's property market.
Last month it was £269 per square foot.
That doesn’t mean Wolverhampton's house prices have changed by that percentage, just the mix of properties for sale, thus changing the £/sq.ft figure. This snapshot is crucial for Wolverhampton homeowners and landlords; it's not just a number but a story of our community's property market.
Each month, we will revisit that figure and use it to gauge the health of our local property market.
Are you keen to know how your home aligns with these trends?
At Skitts, we invite you to a no obligation chat about your property's potential value – no strings attached.
Stay informed, stay ahead, and stay connected with Wolverhampton's property market beat.
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If you’re a homeowner in Wolverhampton thinking of selling your property, you have probably wondered how long it will take to find a buyer.
The timeline for selling a home varies depending on factors such as property type, price, and market conditions. Fortunately, we’ve compiled the latest statistics for 614 Wolverhampton homes that have sold stc in the last 3 months, split down by type (detached houses, semi-detached homes, terraced houses, and flats) to give you a clear picture.
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When browsing property portals, many people wonder why some Wolverhampton homes linger on the market far longer than others. It’s easy to assume there’s something wrong - an issue with the property, an inflated asking price, or a lack of interest - but that’s not always the case. Sometimes, it’s simply down to poor marketing, unrealistic expectations, or even a change in the seller's circumstances.
If you’re on the other side of the fence, currently selling a home in Wolverhampton, you’ve likely asked yourself: “Why is this taking so long?” Whether your property seems to be lingering on the market or you’re struggling to find that dream home, delays are often a natural byproduct of the property market’s ebbs and flows.
But how long is too long to wait before something changes?
