🌿 Local Market Insight: Spring 2025 🌿
By Andrew Turner, Managing Director, Pendle Hill Properties
This quarterly Opinion Poll tracks sentiment in the housing market, based on the experience of estate agents across the UK.
The Bank of England held interest rates at 4.5% in its second meeting of the year, amid persistent inflation. However the housing market continues to show resilience, with 62% of agents saying buyer confidence is improved compared to three months ago.
A spring uptick in supply has pushed competition in the sales market to its highest level in a decade. Over half (52%) of agents say supply has risen.
Boosted buyer choice is leading to greater price sensitivity, keeping price growth in check. Over half of agents (56%) expect price levels in the sales market to be similar over the next three months.
The rental market is seeing a steady spring uptick in demand, with 38% of agents reporting lower stock levels compared to earlier this year. Source: Dataloft by PriceHubble (poll of subscribers), April 2025, Rightmove
Andrew’s local perspective:
The Bank of England has held interest rates steady at 4.5%, and despite ongoing challenges around inflation, the housing market is showing encouraging signs of resilience.
Across both our Burnley and Longridge branches, we’re seeing more confident buyers coming forward this spring. That mirrors national findings, with 62% of estate agents reporting improved buyer sentiment.
We’re also seeing a healthy increase in new properties coming to market, giving buyers more choice – but also leading to greater price sensitivity. With competition between buyers at its highest level in a decade, the properties priced right are the ones generating the most interest.
On the lettings side, demand remains strong, but stock is still tight – something our teams in both Burnley and Longridge are hearing daily. Rental homes are letting quickly, often within days.
If you’re considering buying, selling, or letting, now’s a great time to seek some friendly, expert advice. Our local teams are always here to help.
📍Pop into our Burnley or Longridge branch, or give us a call on 01282 772048 (Burnley) or 01772 319 421 (Longridge) – we’d love to chat.
#PendleHillProperties #BurnleyProperty #LongridgeHomes #LocalMarketUpdate #SpringPropertyMarket
