I should have written this a week or two ago, but what with children going back to school and the accompanying winter ailments, let me belatedly wish you a Happy and Prosperous Year for 2025.
If there is something I hope for in this New Year, it's an improvement in the weather.Last year may have been the hottest year ever recorded, with Earth's average temperature going up more than 1.5°C. But in the UK we broke multiple rainfall records and named plenty of storms which assaulted our shores.Parts of the UK, thankfully not Cumbria, suffered severe flooding while on the other hand there were spectacular views of the northern lights (although I'm not sure if that's really satisfactory compensation if your home is flooded out).
This new year promises to be different in the property market too.Looking back, 2023 was a slow post-COVID recovery, with the market reaching more normal levels during 2024.There was the usual rush to get property sales through to completion before the end of the year and we did have the good fortune of a number of sales exchanging contracts within just a few weeks of being agreed.This is such a rarity, I'll return to this theme.
This January has been the busiest I can remember, particularly with record numbers of Holiday Lets coming up for sale.We have been instructed on more properties than I've known for a very long time and prospective buyers now actually have a choice of properties to view in the CA12 postcode area.Changes in interest rates and taxation (yes, it was a stormy political year too) may have slightly shifted the investment case for Holiday Lets, although the year-round attraction of the Lake District remains as strong as ever.And many of our recent instructions have also been for primary residences due to relocation or for other family reasons.
I am very optimistic about the coming year and, returning to the theme of conveyancing (I did promise), we shall continue to press for a rapid exchange of contracts once a sale is agreed.We at PFK spend a great deal of time pursuing the conveyancing process, which leads to exchange and satisfactory completion.Most people find the period between agreeing an offer and reaching exchange of contracts quite stressful, so my team persistently keep in contact with the various parties (solicitors, surveyors, etc,) to expedite the process to a successful exchange.This is my second wish for 2025!
Hannah Sims, Branch Manager | PFK Keswick