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Wealden District Market Update

Writer's picture: Victoria SlinnVictoria Slinn

Updated: 1 day ago

Reflecting on 2024 and looking ahead to 2025


View of Southdowns National Park - Source explore Wealdon
View of Southdowns National Park - Source explore Wealdon

The property market in the Wealden district had its fair share of challenges and opportunities in 2024, echoing trends across the UK. Let’s take a look at what happened last year and what we can expect for 2025, including how the upcoming Stamp Duty changes might shape things.



Here’s a quick snapshot of how the market performed last year:


  • Properties Sold (SSTC): 56.2%

  • Exchange Rate: 45.94%

  • Fall-Throughs: 24.18%

  • Price Reductions: 45.7%

  • Time to Find a Buyer: 93 days

  • Total Time to Move: 210 days

  • Asking Price Achieved: 94.72%



Key Market Trends from 2024


  1. Buying and Selling Activity

    • Sales agreed jumped from 858 in 2023 to 1,092, thanks to lower interest rates and improved affordability.

    • However, finding a buyer took longer, with unsold properties averaging 189 days on the market.


  2. Challenges

    • Price reductions were common (888 in total), and 993 properties were withdrawn as sellers adjusted to buyer expectations.

    • Fall-throughs stood at 23.41%, highlighting the importance of realistic pricing and strong agent strategies.

 

 

Stamp Duty Changes: What to Know for 2025


In March 2025, Stamp Duty will return to pre-COVID rates. Here’s what that means:

  • For Buyers: Stamp Duty bills will increase for purchases above the standard thresholds, including buy-to-let and second homes.

  • For the Market: Expect a rush to complete transactions before the deadline, followed by a brief slowdown in Q2. Long-term effects, however, are likely to be minimal.


Sellers should keep these changes in mind when pricing properties, as higher Stamp Duty costs may affect buyers budgets.


What’s Next for 2025?


We’re feeling optimistic about the year ahead! Here’s why:

  • Market Growth: House prices are expected to grow by 3%, with transactions increasing to around 1.15 million.

  • Lower Interest Rates: With fixed mortgage rates falling, buyers are gaining confidence.

  • Strong Demand: First-time buyers and those moving up the ladder will continue driving activity.


While the Stamp Duty changes may cause a few ripples, the market’s long-term resilience is clear.


2024 was a year of resilience and recovery for the Wealden property market, and 2025 looks set to build on that momentum. Whether you’re buying or selling, staying informed and planning carefully will help you make the most of these opportunities.


If you have questions or need advice, and you are thinking of Selling or Renting your home in 2025, feel free to reach out to Victoria, our East Sussex expert 😊

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