Watts & Morgan: Market Update

Fall back, spring forward…

We hear this a lot this time of year when trying to remember which way to turn the clocks. In fact, this is a good analogy for the property market in Penarth and surrounding areas over the past six months.

2024 proved to be a turbulent year for buyers and sellers, with several major external factors such as elections and budget announcements at the latter part of the year playing havoc with the decisions required to buy or sell a property. That said, the Penarth housing market remained as resilient as ever with sales still being agreed.

However, January and February 2025 has seen a quick acceleration of activity and we’re still seeing the flurry continue into March. As the nights get lighter and we make those alterations to the clocks, predicted further mortgage rate reductions gives cause for optimism as we head deeper into 2025.