UK property will be a buyer's market by 2025, analysts predict | housing market

Experts predict that as the housing market atmosphere shifts to cautious optimism, the buyer's market for house hunters will grow larger in the future, and their negotiating power will increase further.

But even the more hopeful expectations for 2025 were met cautiously. That's because important stamp duty relief for first-time buyers was due to end in the spring, potentially putting higher interest rates and taxes on the market.

Aneisha Beveridge, head of research at property firm Hamptons, said: “As we approach the end of 2024, the mood in the housing market has shifted from trepidation to cautious optimism.”

Low mortgage rates have been a major catalyst for change, causing them to fall much faster than we expected. Home prices are on the rise, reversing the decline in 2023. But while the future direction of interest rates appears to be set, the pace and final destination of this journey remain uncertain.

Hamptons predicts house prices will rise by 3% across the UK in 2025, then 3.5% in 2026 and 2.5% in 2027 as house prices improve.

Hamptons housing market forecasts predict price growth in London of 4% in the fourth quarter of 2025, putting it ahead of other regions in the fourth quarter of 2025. This is the first time since 2015.

Tim Bannister, property expert at Rightmove, said this would be partly driven by some major companies mandating full-time returns.

We think 2025 will continue to be a buyer's market. This could give buyers more negotiating power, given that the number of properties available per estate agent is at its highest level in a decade this year.

There may be less competition among buyers than in a pandemic market, giving you leeway to choose the right home at the right price.

Rightmove recorded its busiest Boxing Day yet with new seller activity and agents listing properties for sale.

Total buyer demand, as measured by the number of inquiries sent to real estate agents about homes for sale, was also 20% higher on December 26 than on the same day in 2023, as potential buyers took advantage of more options before moving in 2025.

Transaction volume is expected to increase as in 2024 thanks to first-time buyers, who account for 31% of total sales.

However, the stamp duty changes in April could distort the market, with the potential for a pre-implementation buying boom.

The Hamptons predictions continued. There may be a slight increase in transactions just before these changes take effect, but the overall impact is not expected to cause a significant spike as the cost savings for most directors will be relatively small.

Overall, affordability is expected to remain a key factor in determining market direction, with incomes expected to outpace inflation for a second consecutive year, encouraging those who have been delaying a move to consider doing so.

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