Nunn...the Wiser

Ad - Market Update Quarter 1 2025

Andrew Nunn Associates have produced another quarterly review of the property market.

Mateo Asminian in Sales says:

After a year that saw the first (and eagerly anticipated) base rate cut in almost four years, 2025 began with notable improvement in sentiment and activity in the property market in Chiswick, with hopes of some more positive rate announcements – and, consequently, better mortgage deals – being supported by the forecasts in the media. At the start of the quarter, mortgage rates were ranging between 4-5%, inflation was only half a percent above BoE’s 2% target and home buyers were snapping up January stock with hopes of completing before the SDLT relief deadline of the 31st March. February, a typically quiet month in the property market in Chiswick, saw the first of the year’s drops in base rate to 4.5%, followed by a wave of lenders trimming their mortgage deals and, at last, we saw mortgage rates dip below the 4% mark! By the time the cherry blossoms began to bloom, it was clear that the property market in Chiswick was heading in the right direction.

Katherine McDowall from the Lettings division says:

Q1, normally the most subdued quarter in the year, saw trends of late continue to intensify
with growing demand, limited supply and a readjustment on rental values. But could there be
an opportunity for new or existing landlords to capitalise on this? Our independently collected data detailed in this newsletter shows some downward trends year-on-year, however
when comparing the data from two and three years ago we have found that rents for both
flats and houses are much improved suggesting that pricing in 2024 and Q1 2025 simply
overshot what the market could sustain. It remains positive for investors and landlords that
rents are still high, but that we need to be more mindful of pricing competitively for the current market.

For the full report, please click on q1-2025-newsletter.

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April 7, 2025