This is my property market forecast for January 2024, in High Wycombe. I also have an amazing property related stat to share with you.

I’ve been an Estate Agent in High Wycombe for well over a decade now. I speak with buyers, sellers, mortgage brokers, surveyors...almost everyday. I’m on the front line in the property market. So this is my review of last year and what I think will happen going forward.

First of all though, let me tell you what happened in 2023.

Throughout the course of last year, property prices dropped, as did confidence from buyers. On more than one occasion in 2023, having had a sale agreed, the buyer would then tell me 8 weeks’ down the line, “prices are dropping aren’t they?”.  That’s never good to hear and usually leads the buyer to renegotiate or withdraw their offer entirely!

I believe the low point of the property market was in September. From there, mortgage rates started to drop, slowly - yes, but they began to come down. This takes me to my amazing stat.  Well, it’s amazing for me because I’ve not seen this before in High Wycombe, Hazlemere, Holmer Green, Penn or anywhere.

In November & December 2023, a total of 62% MORE properties were sold than the previous two months.  In High Wycombe, property sales have seasonal highs and lows.  September is always one of the good, busier months of the year, as is October, with many people looking to buy a house, complete and move in before Christmas.

So, there are more houses selling in the last two months of the year, which never happens. This has given some much needed confidence going into 2024.

That’s not to say that you can market your house at any price you like.  If a property is still marketed at a high price, it will not sell. If you see properties in High Wycombe reducing in price now, well it’s not because it’s a bad market, market prices are no longer ‘dropping’.  It’s simply because the estate agent had overvalued the property in the first place.

I marketed properties at the end of last year, at the right price, which were sold after having multiple offers on them.  More than one buyer fighting it out to secure them.

So, my forecast for 2024, and my prediction for house prices in High Wycombe, is that prices will INCREASE by 1% - 2%.  I think that the start of this year will see prices staying flat, level, not changing at all.  Then following the General Election these prices will increase slightly.

The mid terrace house I sold in Hazlemere in November 2023 for £400,000, will easily be £408,000 in January 2025.

I’m looking forward to this year and if you’re looking to move, maybe you’ve already seen front page news saying this year looks more optimistic, get in touch with me.