Q1 2025 Harlow property barometer
This quarterly Opinion Poll tracks sentiment in the housing market, based on the experience of estate agents across the UK.
The Bank of England held interest rates at 4.5% in its second meeting of the year, amid persistent inflation. However the housing market continues to show resilience, with 62% of agents saying buyer confidence is improved compared to three months ago.
A spring uptick in supply has pushed competition in the sales market to its highest level in a decade. Over half (52%) of agents say supply has risen.
Boosted buyer choice is leading to greater price sensitivity, keeping price growth in check. Over half of agents (56%) expect price levels in the sales market to be similar over the next three months.
The rental market is seeing a steady spring uptick in demand, with 38% of agents reporting lower stock levels compared to earlier this year. Source: Dataloft by PriceHubble (https://inform.dataloft.co.uk/), April 2025, Rightmove.
That’s what Estate Agents are saying, but what’s the reality?
In 01, the UK property market showed a mixed picture of resilience and vulnerability. Despite strong activity, there are significant headwinds from changes to Stamp Duty, persistent affordability challenges, and broader economic uncertainties that collectively test market stability.
JANUARY – MARCH 2025
Notably, January saw a 10-year record-high in the number of new listings. The rise in listings provided buyers with more choice while impending Stamp Duty changes encouraged sales to be completed quicker.
This also impacted withdrawals which saw a significant decrease this quarter, likely due to the Stamp Duty change deadline, alongside increased seller confidence and slightly improved affordability following the February Bank Rate cut.
Despite this glimmer of positivity, fall-throughs continued to rise, potentially due to the lowering of the Stamp Duty threshold to £300,000 for first-time buyers, with many backing out of purchases due to affordability concerns.
REDUCTIONS
Reductions also tell a similar story, which after finishing 2024 on the decline, crept back up during 01. Although February reductions did drop to more normal levels, March saw the highest levels the market has seen across the last 5 years, likely attributable to impending Stamp Duty changes.
01’s top-performing location was the East of England which saw the highest number of properties sold, closely followed by the South East. However, the notable change was in Greater London which saw the lowest percentage of sales this quarter. This is arguably due to fewer homes qualifying for Stamp Duty which may test affordability – especially for first time buyers.
The property market typically experiences a seasonal influx of activity following the festive ‘lull’ period. This quarter has been no different. A record-breaking Boxing Day surge created an active market from the beginning of Q1. Also, the momentum of new listings from December trickled into January.
In January, both supply and demand were strong with the number of available homes for sale at a record high. In January155,000 new listings entered the market. These levels are the highest the market has seen in over a decade. This is 17% up compared to the 5-year average, and 7% up against January 2024. This created a strong start for agents at the beginning of the year.
Historically, February is one of the best months to list a home. This is because of its high completion rates. Also, with the Bank of England’s 4.5% cut, there was an expectation that listing levels would continue upwards. However, new listings slowed slightly in February, down 2% compared to February last year, remaining within 7% of the 5-year average.
In March, listings matched typical expectations for the month. It tracked 3% higher than the 5- year average and just 1% lower than in 2024. This happened despite fears that many vendors may be cautious to enter the market, sell up and purchase an onward property with the impending Stamp Duty changes and affordability concerns.
What’s happening in Harlow?
In Q1 2025 639 properties came to market in Harlow. This compared to 577 coming to market in Q1 2024.
This is an increase of 10.74% in stock. This is far greater than the national average of just 0.83%.
in Q1 2025 there were 462 properties sold in Harlow. This compared to 423 that were sold in Q1 2024.
This is an increase of 10.87% in property sold. This compares well against the national figure of 6.59%.