Market update

2024 has continued to be an eventful and productive year, with valuations and listings generally tracking at our expected levels, and while it is absolutely the case that certain parts of the market are quieter, others remain busy and there are plenty of good buyers out there still. This has been another year of upheaval though, and this state of flux is going to continue into the autumn, winter, and spring 2025 due to the upcoming budget and US election, as well as the ongoing situations in Ukraine and the Middle East. The Penarth property market is well insulated against many of these events, though, and remains robust. There are statistics to show value growth and value decline, which can all be taken with a pinch salt. Transactions are down, though, and although it isn’t necessarily a buyers market yet, there are definitely some better deals to be had out there now. Inflations has settled back down, but interest rates had remained at 5.25% until August, with the reduction then to 5%. Mortgage rates have been slightly more volatile within a narrow range, and while we expect them to reduce further into 2025, the likelihood is that they won’t be moving much.

A new starter

We are delighted to be able to announce that Alison Hajilambi has joined us to head up our residential lettings business. Alison joins us with 25 years of experience and will bring her wealth of knowledge, skill and expertise to David Baker & Company. This move will provide our landlords and contract holders with a truly dedicated service. Alison started on 14 October and will be making her way around our let properties and meeting landlords over the course of the autumn and winter as she settles in and gets to grips with things.

Staff news

It’s been a busy period for two of our well-known team members, with Charles and Craig both putting themselves to the test. Charles completed a 33-mile sponsored walk with local charity the Speakeasy Club. The Bench2Bench Challenge took place on 27 September, starting in Ebbw Vale and ending at the Old Penarthians Club, taking in 40 miles and 22 venues in total over the course of the day. Charles and Craig, both completed the Cardiff 10k in September while Craig went a step – many steps – further and ran the Cardiff Half Marathon at the start of October. Amazing and inspiring efforts all round!

Support local

Our usual message, which is particularly important at this time of year! We have many fantastic businesses in Penarth, so make sure you get out there and use them during the Christmas period. Whether it’s eating, drinking or shopping, these businesses are the lifeblood of our town and we wouldn’t a Christmas donation to the Trussell Trust Food Bank again this year, so look out for more details.

Here to help

Whether you are looking to buy, sell or rent, or if you have any specific requirements and want to discuss the local property market, please do give us a call and we can arrange a consultation at a time to suit you. Our latest property listings can be found online at www.davidbaker.co.uk.

Our latest properties