The state of your local property market: April 2025

Spring is in full swing, and with the days getting longer (and hopefully a bit warmer), it’s the perfect time to talk all things property. Whether you’re thinking about moving, getting your home market-ready, or just curious about what’s going on in your local area, we’ve got you covered.

In this month’s blog, we’ll chat about what’s happening in the market right now, share some insights, and take a look at what buyers and sellers are up to across the coast. Let’s get into it…

The current landscape

This month, Managing Director at Jacobs Steel, Matt Jacobs, gives us his insights on what’s been happening in the local property sales market. Here’s what he had to say:

“Following the rush of completions in March to beat the stamp duty increase, which was competing with one of our best ever months, April has been slower for completions. Solicitors taking well-deserved breaks off the back of a busy first quarter, along with the school and Easter holidays, have all contributed.

Whilst completions have been slower, sales agreed and new properties coming to the market have been buoyant. Out-of-area enquiries with intentions to relocate to the coast have also picked up.

All in all, the market feels buoyant and there is plenty of activity, but higher-end properties are still taking some time to sell.”

Mortgages

The current Bank of England base rate is 4.5% as of 25th March 2025. The next base rate review is scheduled for 8th May 2025.

As of 23rd April 2025, the current average mortgage rates are shown below (sourced from (https://www.uswitch.com/mortgages/) but we would also recommend speaking with an independent mortgage broker before committing to a product.

Rental market review

Ollie Whiting (MARLA), Lettings Manager at Jacobs Steel shares his thoughts on the March lettings market:

“The rental market is well and truly now in full swing, we are seeing an increasing level of activity which is mostly stock driven, however that influx of stock coming available is being met equally by active tenants looking to move. The signs are that we could be in for another busy summer!

In other areas of our industry, the Renters Rights Bill is now in the committee stage in the House of Lords which commenced April 22nd, a number of amendments have been tabled by peers, but at this stage it looks unlikely that those amendments will make the final Bill unless backed by government. The Bill is expected to meet Royal Assent by June or July.”

Commercial market review

Leigh Doherty, Commercial Manager, has an in-depth understanding of the commercial property market. Here’s what he had to say:

“The retail market is currently proving to be extremely buoyant. We’ve recently brought several prime retail units to market and are seeing strong interest, with multiple offers coming in from high-quality tenants.

We also have a number of exciting projects on the horizon, including:

Prime retail opportunities
Town centre live/work accommodation
A variety of mixed-use office and industrial units

In addition, we’ll shortly be launching a selection of retail investment properties.

If you’re looking for any of the above, or would like to discuss current or upcoming opportunities, please don’t hesitate to contact a member of our commercial team on 01903 792785 or via commercial@jacobs-steel.co.uk”

The road ahead

Whether you’re thinking about selling, buying, or just want a bit of advice, we’re here to help. The property market is always changing, but with the right support and a bit of local know-how, you can make confident decisions, whatever your plans.

Keep an eye out for next month’s update, and in the meantime, pop into your local Jacobs Steel branch or give us a call if you’d like to chat about your next move.