Could 2025 be the right time to buy a house?
March 11th, 2025 Buying
Buying a home is a big decision, and market conditions can make it even trickier. House prices increased by an average of 3.8% in 2024, and experts predict further growth of 1% to 4% in 2025.
But while rising prices can make buying more expensive, mortgage rates are expected to gradually decrease, making borrowing more affordable.
Things to consider
- Interest rates are set to come down in 2025, which could mean better mortgage deals. On the other hand, waiting too long for interest rates to drop could mean an increase in property prices, offsetting any savings on interest rates. So, if buying is affordable now, securing a mortgage sooner rather than later might be a good move.
- For first-time buyers, having a bigger deposit often means access to lower interest rates and better mortgage deals. However, delaying a purchase to save more carries risks, as there’s no guarantee future rates will be lower than current options. It’s always worth getting expert advice to understand what works best based on individual circumstances.
- Spring tends to see more properties listed for sale so there is more choice, but also there are more people looking to buy, and competition can push prices up. Keep in mind that good opportunities can appear at any time of the year, and when less people are looking to buy, it might be easier to negotiate a better deal.
In short, finding the right time to buy depends on budget, mortgage options, and personal circumstances. Take advantage of the free expert advice on House Nous to help you navigate the process and explore your options. You can get started with an instant no obligation quote from one of our mortgage advisors, surveyors, or solicitors.
