Harlow CM17 Property Market May 2024
Those clever people at The Advisory (https://www.theadvisory.co.uk/) use a simple but clever method. They divide the amount of properties on the market by the amount of properties sold and instead of using a percentage figure, they call it degrees. They then use a mocked up thermometer to show if the market is cold, warm or hot!
Here at Jukes Estate Agents Harlow, whilst some of their terminology is debatable, we like what they produce. It tends to give a clearer picture as to what is happening in Harlow. Then, when you look across the four main postcodes you get an even clearer picture.
As Harlow Estate Agents, it is vital we are across everything that is happening in Harlow. It is important we keep you all informed.
CM17, What’s happening & what’s happened over the last year.
Currently the gauge is at 45 degrees which we think is a warm market, although The Advisory say it is hot!
It also shows that the market is cooling slightly. This is based on the figure falling from 47 degrees in April.
To be fair to CM17, the market has been fairly consistent over the last year. It has never been above 50 degrees & never below 43
What does the future hold?
Harlow CM17 Property Market May 2024
Crystal ball time! However, what happens in the forthcoming months may very well be down to the Bank of England. Their reluctance to lower the base rate from 5.25% has made mortgage companies nervous. Also what’s happening in the USA has not helped.
There have been two small increases to mortgages these last two weeks. This hasn’t helped, although the increases were very small. If the Bank of England drops the rate in August then hopefully this will help the Harlow property market regain momentum.