The Spring Market 2025
The Oxfordshire Property Spring Market 2025
As an agent I recall using the popular and ever optimistic proverb of “making hay while the sun shines” around this time every year with the intention of not only motivating the buyers and sellers, but also myself as we entered a time of the year when we usually enjoyed the highest level of activity in the property market. Whilst we have seen an uptick in the market activity over the last four weeks, is this representative of “normal” market trends?
Oxfordshire Property Market Trends
As buying agents we have the virtue of watching the entire market rather than just our own feathered nest of properties, speaking with many agents daily, and so we get a good overall picture of the market conditions. Whilst the stats from the house price index are showing national growth, with a rise of 0.6% this month, this seasonal increase is the lowest since 2016. The traditionally strong late spring market feels somewhat more subdued than we have seen for a while and along with a smaller than usual dip in price growth, there has also been a dip in the level of buyer demand.
Oxfordshire Property Trends: Year to date
After a busier than usual March, new buyer demand slowed in April to 4% below the same month in 2024 however the number of new properties coming onto the market for sale is now 14% ahead of this time last year. Early signs indicate that we will see a bounce back in May, but this is based on viewing numbers whilst from our experience while buyers have good intentions, they remain tentative about the overall market conditions. What we would describe as the aspirational movers remain sat on the fence, leaving those who need to move through necessity keeping the market alive.
What is the cause of these Oxfordshire Property Trends?
We could attribute this to the many factors including the VAT on school fees which we have seen resonate in our marketplace. The cost of living remains high added to which the bank of England remains poised to continue dropping the base rate and the majority of buyers, who are somewhat risk averse, maybe looking at the prospect of higher out goings and decide to keep their powder dry for more affordable moving conditions. In reality, Rightmove’s weekly mortgage tracker shows that the lowest available two-year fixed mortgage rate is now 3.72%, down from 4.75% last year.
Why should you buy a house now?
Globally there is much to observe that would suggest that economically this is not the time to move however we see these market condition as a good opportunity for buyers to get the best value. Having worked in a stronger market when confidence was high, buyers bought in haste at superficially high prices which in the long term can lead to heartache if circumstances change.
How to beat the rush buying your home
There is no doubt that we remain in a buyers market at the moment but this won’t last for ever. At some point prices will flourish, driven by market confidence and more a more favourable socioeconomic sentiment, by which time buyers will be competing against one another again to pay the highest price for a house that quite simply, rather than loving, they don’t want to miss out. The property market in its current form affords buyers a more considered approach and ultimately a smooth transaction without the peripheral noise of a hysterical market swaying their judgement.
If you're interested in exploring opportunities, we encourage you to get in touch. By working together, we can help you navigate the property market and secure your next home with confidence.