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We ask Heart and Home Property is now a good time to buy or sell your home?

13th March

Victoria Slinn, Heart and Home Property

Is this year a good time to buy or sell your home?

As Spring is very much in the air, it’s traditionally the time that people get their homes ready to sell or set out to find a new home or both! We thought it would be a good idea to talk to property expert Victoria Slinn of Heart and Home Property Sussex, she has summarised the market as she sees it. Taking a look at the trends to date and what is to come in 2025.

Victoria Slinn Wealden property market up date

The property market in the Wealden district had its fair share of challenges and opportunities in 2024, echoing trends across the UK. Let’s take a look at what happened last year and what we can expect for 2025, including how the upcoming Stamp Duty changes might shape things.

Here’s a quick snapshot of how the market performed last year:

  • Properties Sold (SSTC): 56.2%
  • Exchange Rate: 45.94%
  • Fall-Throughs: 24.18%
  • Price Reductions: 45.7%
  • Time to Find a Buyer: 93 days
  • Total Time to Move: 210 days
  • Asking Price Achieved: 94.72%

Key Market Trends from 2024

  1. Buying and Selling Activity
    • Sales agreed jumped from 858 in 2023 to 1,092, thanks to lower interest rates and improved affordability.
    • However, finding a buyer took longer, with unsold properties averaging 189 days on the market.
  2. Challenges
    • Price reductions were common (888 in total), and 993 properties were withdrawn as sellers adjusted to buyer expectations.
    • Fall-throughs stood at 23.41%, highlighting the importance of realistic pricing and strong agent strategies.

Stamp Duty Changes: What to Know for 2025

In March 2025, Stamp Duty will return to pre-COVID rates. Here’s what that means:

  • For Buyers: Stamp Duty bills will increase for purchases above the standard thresholds, including buy-to-let and second homes.
  • For the Market: Expect a rush to complete transactions before the deadline, followed by a brief slowdown in Q2. Long-term effects, however, are likely to be minimal.

Sellers should keep these changes in mind when pricing properties, as higher Stamp Duty costs may affect buyers budgets.

What’s Next for 2025?

We’re feeling optimistic about the year ahead! Here’s why:

  • Market Growth: House prices are expected to grow by 3%, with transactions increasing to around 1.15 million.
  • Lower Interest Rates: With fixed mortgage rates falling, buyers are gaining confidence.
  • Strong Demand: First-time buyers and those moving up the ladder will continue driving activity.

While the Stamp Duty changes may cause a few ripples, the market’s long-term resilience is clear.

2024 was a year of resilience and recovery for the Wealden property market, and 2025 looks set to build on that momentum. Whether you’re buying or selling, staying informed and planning carefully will help you make the most of these opportunities.

If you have questions or need advice, and you are thinking of Selling or Renting your home in 2025, feel free to reach out to Victoria, our East Sussex expert

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