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Features
NOW’S THE TIME

IS NOW THE RIGHT TIME TO BUY?

Over the first two months of 2024, we’ve seen positive news on the property market, with the new year bringing reduced mortgage rates, an increase in mortgage products and returning buyer confidence.

According to Rightmove, the number of sales agreed in early January was 20% higher compared to Jan 2023, showing the property market has got off to a great start.

We’ve sat down with our trusted partners to find out if now is a good time to buy and what 2024 has in store for the property market.

FALLING RATES, SOARING SPIRITS

We all saw mortgage rates soar over 2022 and 2023, making moving house unaffordable for many.

However, this year so far, has seen a pricing war between mortgage lenders with some 5-year fixed deals now below 4%, and many products below 5%, a huge improvement on the 6.11% we saw in the July 2023 peak.

Shared Ownership mortgages rates have also reduced, making buying with a smaller deposit even more affordable.

Copy of Copy of heron financial II (16)
Copy of heron financial II (13)

GREATER CHOICE

Not only have rates dropped, but the number of available mortgage products has grown to its highest in over 15 years.

This shows that banks have increased confidence in the property market once more.

Banks are also­­ starting to think outside the box with new types of mortgage deals, including fixed term deals without Early Repayment Charges.

MARKET STABILITY

Savvy buyers are capitalising on the positive changes in the market before the traditional Spring boom.

We’re still very much in a buyers’ market, as many people put their property searches on hold in 2023. Now that mortgages are more affordable and sentiment is changing, we expect an influx of buyers returning to the market, which will drive up demand and potentially prices.

By taking advantage of the current market and buying now, you could catch the bottom of the curve.

Copy of Copy of heron financial II (18)
Copy of Copy of Copy of heron financial II (4)

LOW DEPOSIT? NO PROBLEM....

For those struggling to save a hefty deposit, the government-backed Shared Ownership scheme enables you to buy with much smaller savings.

The rental portion of your home is owned by a Housing Association with the rent capped, often resulting in lower overall monthly costs than private renting.

Read this article to discover more about Shared Ownership.

OUR DEVELOPMENTS

Hanwell Square - Hanwell

Hanwell Square - Hanwell

From £420,000
Artisi - Hammersmith

Artisi - Hammersmith

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Amber Parkside - Cranleigh

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The Hue - Hounslow

The Hue - Hounslow

From £113,750 (35% Share)
The Oaklands - Ottershaw

The Oaklands - Ottershaw

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Elmsbrook - Bicester

Elmsbrook - Bicester

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Westvale Park - Surrey

Westvale Park - Surrey

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