Harlow property market warmer or colder?
As September 2024 comes to an end, Jukes Estate Agents Harlow delve into the four Harlow postcodes and look to see if they have heated up or cooled down.
The Advisory (https://www.theadvisory.co.uk/) use this fabulous tip of converting the percentage of property sold into a temperature and compare it month on month.
Jukes Estate Agents Harlow predicted last month that all four postcodes sectors would fall. Let’s see if their prediction was correct:
CM17
CM17
This postcode dropped to 45degrees in September. A CM17 drop halted the 6 month consecutive rise and bought it back to May 2024 levels.
CM18
CM18
As predicted, CM18 fell during September. It also fell to May 2024 levels. At 59 degrees though, it is still a fairly hot market. It also remains the hottest of all the Harlow postcodes.
CM19
CM19
Another faller here (as predicted). However, CM19 fell by just 1% to 55 degrees against August 56 degrees) and currently stands at the second highest level in CM19 over the last 12 months.
CM20
Harlow property market warmer or colder?
CM20
CM20 has seen its second consecutive drop. Whilst this month’s drop was predicted, an eye needs to be kept out for this sometimes unpredictable postcode.
CONCLUSION
Jukes Estate Agents were spot on when they predicted a drop in sales across all four Harlow postcodes.
Co owner Geoff Flewers takes no recognition though. He explains: “To predict that sales would fall at the back end of the summer is a bit like predicting that night follows day.” He continues: “with so many people on their holidays and schools still out, sales always tend to fall over this period.”
“What is encouraging here though, is that the drop in each postcode sector wasn’t that large'”
WHAT IS JUKES PREDICTING FOR NEXT MONTH?
Firstly, the Bank of England have hinted that there is another decrease in interest rates coming later in 2024.
Secondly, mortgage rates are on the decrease still.
Thirdly, the holiday season is well and truly over.
This all suggests to a rise in temperature, or in other words, a rise in sales as a percentage.
WARNING:
Lee Venables, co owner of Jukes Estate Agents Harlow warns: “Whilst we fully expect to see a rise in the amount of property sold, we would not be surprised to see a further reduction in the percentage of property sold.”
” This is because more people are putting their homes on the market. Therefore, we need a rise in buyers to be larger than people selling.”