What Does 2025 Look Like for Homeowners in Harborne and Edgbaston?

A Review of the Property Market

As we approach 2025, it’s the perfect time to reflect on the property market’s performance and consider the outlook for the year ahead. Understanding these insights will help you make informed decisions about your property, whether you're looking to sell or simply stay updated on its value.

National Market Outlook for 2025
On a national scale, property prices are projected to increase by around 4% in 2025 according to Rightmove, in keeping with other forecasts and aligning with trends observed since 2021. This indicates a steady and gradual recovery in the market, despite some volatility in previous years. While this increase in property values is positive, it’s essential to remember that the market can vary significantly by location and individual circumstances.

According to Rightmove, national figures show a general uptick in property prices, and there is continued interest from buyers, especially in sought-after areas. However, while property prices are expected to rise, the sales process remains relatively long, with the time between agreement and completion averaging 132 days in 2024. This trend is likely to continue into 2025, meaning homeowners may face longer waiting periods before securing a sale.

Local Insights: Harborne and Edgbaston
When we look closer to home, the local property markets in Harborne and Edgbaston show a promising outlook for 2025. In these areas, just over 52% of properties that come to market are being sold subject to contract, reflecting good but not overwhelming demand.

The Importance of Setting the Right Price
As the property market becomes more competitive, pricing your home correctly will be critical. Overpricing a property can lead to extended listing periods, which may ultimately result in the need for price reductions. In fact, around 46% of properties in the area have undergone price reductions in 2024. This highlights the importance of working with an expert who understands local market dynamics to ensure your home is priced correctly from the outset.

One of the most important takeaways for homeowners in 2025 is the importance of setting the right price for your property. With prices expected to increase by 4% nationally, setting a competitive and realistic price from the start can help you avoid the need for price reductions. In a market where so many properties are being reduced in price, listing your home at an appropriate value will help ensure that it stands out to potential buyers and doesn’t stagnate on the market.

The Sales Process: What to Expect in 2025
In terms of the sales process, the time it takes from listing a property to completion has been steadily increasing, and this trend is expected to continue in 2025. Nationally, it now takes an average of 132 days from offer acceptance to completion. This is a significant length of time, and homeowners should be prepared for the possibility of a longer waiting period.

However, McHugo Homes has been able to reduce this waiting time for our clients. On average, properties listed with us are completing 66 days faster than the national average, thanks to our efficient processes and strong relationships with solicitors. Additionally, the time from exchange of contracts to completion is typically reduced by around 28 days, ensuring a smoother and quicker transaction for our clients.

Forecast for 2025: Pricing and Strategy
Although the property market is expected to experience price growth, it is essential to approach the sales process with careful planning and expert guidance. Whether you are looking to sell next year or in the years to come, it’s crucial to have a well-thought-out strategy to get the best result.

At McHugo Homes, we are committed to providing our clients with the insights and expertise needed to navigate the evolving market. Our knowledge of the local area, combined with our professional approach to marketing, ensures that your property is positioned for success.

Interested in knowing the sale value of your property? Or simply keep in touch on what prevailing market conditions mean for you and your homes?
We offer an up-to-date no-obligation market appraisal. Visit here to find out more.

For expert advice and insights, contact us today at movinghome@mchugohomes.co.uk. Let us help you make the right decisions for your property in 2025!