Harlow CM18 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.
CM18, What’s happening & what’s happened over the last year.
Currently the gauge is at 61 degrees. This makes it the best performing Harlow postcode. Having said that, it has ‘cooled’ a little after two consecutive months of strong growth. This slight cooling off period is probably in the main down to the nervousness of the mortgage companies & therefore the nervousness of first time buyers in particular!
What does the future hold?
Harlow CM18 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.