Posted on Wednesday, October 16, 2024
- Falling mortgage rates are helping boost sales levels. There were 332,200 sales agreed across the UK in Q3 2024, 23% above the same period last year.
- While 2023 was a low base to compare with, Q3 2024 sales were also 7% ahead of the same quarter in 2019 (a stronger year for comparison purposes).
- Average two- and five-year fixed mortgage rates fell to 5.0% and 4.5% respectively over September. These rates are now at their lowest level since April and May 2023.
- All regions saw an annual increase in sales, with the East of England and East Midlands leading with 28% rises. The supply of properties for sale also rose 456,902, up 9% year on-year and its highest level in six years. Source: TwentyCi, Bank of England
