What is happening in the property market?

What’s Happening with House Prices This Month?

This month’s more moderate price increase appears to be driven by two main factors. First, sellers are anticipating upcoming stamp duty changes in England at the end of March, which could push some buyers into a higher tax bracket. Second, the housing market now offers more choices than it has in a decade, prompting sellers to price competitively to attract buyers.

The number of homes available for sale has reached a 10-year high, helping to temper the usual new-year price surge. While this is good news for buyers, sellers need to set realistic asking prices. Notably, the average asking price for first-time buyer properties dipped slightly by 0.1%, whereas larger, high-end homes saw a 0.6% increase.

The Bristol Market: What’s Happening in St George and Redfield?

In Bristol, demand remains strong, particularly for family homes in areas like Clifton, Redland, and Bishopston. However, the city's increased housing stock means sellers must be mindful of competitive pricing. With Bristol’s thriving job market and ongoing regeneration projects, buyer interest remains high, but affordability challenges persist, especially for first-time buyers.

St George and Redfield have become two of Bristol’s most sought-after areas for young professionals and first-time buyers. With their vibrant communities, independent cafes, and easy access to the city centre, these areas have seen rising demand in recent years. Despite this, property prices remain more affordable than in traditional hotspots like Southville and Bishopston, making them attractive alternatives.

With more homes now available, sellers in St George and Redfield need to price competitively to stand out. The increase in stock is giving buyers more negotiating power, particularly for properties that require modernisation. However, well-presented homes—especially those with period features and gardens—are still attracting strong interest and often selling quickly.