Happy autumn and winter to all of our friends in Penarth, after what has been a busy, hectic and enjoyable summer. There has been plenty going on, not least our office renovation which has certainly kept us on our toes. We’ve also experienced a strong summer period with properties continuing to come to market, relatively good viewing numbers and some agreed sales continuing to come through. We absolutely love the fact we can help people achieve their goals, whatever their objectives and circumstances.
The market is stable and values are holding their own as a result of a lack of supply when compared to demand. For those needing a mortgage, lenders have started to reduce their fixed-term rates since our last Penarth View update following the unexpected drop in inflation in September and the subsequent holding of interest rates at 5.25% shortly after. Across the UK, the trend seems to echo this sentiment in perhaps a more pronounced way, with Datloft reporting a 0.6% rise in property prices combined with a 15.6% drop in transactions. We expect these market conditions to continue into the new year and beyond.
Christmas in Penarth
The most wonderful time of the year will soon be upon us, with the Penarth Christmas Lights Switch-on recently announced for Sunday, 19 November 2023. This is a great time to spend some time and money in the town, supporting our much loved local businesses. Visit some old favourites and discover some new ones while you’re at it!
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