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As part of our 31 days of Rettie campaign, Dr John Boyle reflects on the previous year, and gives us his predictions for the market in 2025.

Reflecting on 2024

In 2024, we have had a tepid housing market and that will show in our recent autumn briefing which we will be updating in early 2025.

This conveyd low price growth as well as transaction growth, however these things are moving in the right direction.

The market is still facing headwinds of relatively high interest rates, as well as low economic growth and higher taxes.

The rental market has calmed after double digit growth but continues to be shaped by political interventions.

Predictions for 2025

Now, getting the crystal ball out for 2025 - and we have not been too far out in terms of the accuracy of our forecast in recent years.

We think there will be continued improvement in mortgage affordability and availability, but relatively minor.

Therefore, transactions stay around the 100,000 mark for the country as a whole, but some upward and limited movement in average house prices as a result of this improvement - perhaps in the order of 3-4% over 2025.

Growth in average rents will probably be around low single digits as well as that market has calmed, however, this will continue to be shaped by political intervention.

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Author
Millie Jobson
Marketing Executive
Published: 30 Dec 2024
Research
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