expect for 2024

What to expect for 2024? With Mark Parkinson

1024 576 Middleton Advisors

Property values held up better than expected last year, leading to increased optimism for 2024. Property heads see a positive outlook on the market, suggesting the economic challenges we faced last year are easing and house prices are looking to be more positive in the months ahead.

With that said, the uncertainty lies in the upcoming General Election. Prime Minister Rishi Sunak has mentioned his assumption of an Autumn election, possibly in October, but an earlier date in May or even a delay until January 2025 is still a possibility. Traditionally, a General Election has been a source of uncertainty in the market, leading to a slowdown in home-buying and concerns about potential policies like a mansion tax.

However, this time around,  property professionals seem relatively calm about the possibility of a Labour government. “The likelihood of an incoming Labour government no longer feels like a massive threat to prime property markets in London and the country,” summarised Mark Parkinson, Managing Director, a nod to Middleton’s recent Market Insights report which assesses the possibility of a Labour government and how that would affect the prime property market.

Read the full article here.