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John Lewis Welwyn, Partners with Ashtons

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Explore the unique charm and vibrant community that makes Wheathampstead a hidden gem by discovering our top things to do and see.

The NPPF significantly impacts local areas, including St Albans, Welwyn and Hatfield, Harpenden, and Berkhamsted, each facing unique challenges.

Explore our exclusive portfolio of luxury properties, featuring the finest homes across Hertfordshire and the Chilterns.

Explore the rich history and vibrant stalls that make St Albans Markets an iconic part of the city's identity and community spirit.

As we enter 2024 the New Year property market has started strongly. The previous year was one of the most challenging markets we have seen since the financial crisis of 2008/9. The market faced a perfect storm of uncertainty. The cost of living crisis created by rapidly rising inflation in the first half of the year resulted in a rapid rise in the base rate of interest by the Bank of England. Economic growth through the year was sluggish at best. Thankfully the housing market began to stabilise in the last quarter of the year as the cycle of interest rate rises peaked at 5.25% in September and inflationary pressures eased to 3.9% in November. Well down on the figure of circa 9% at the beginning of the year.

Uncertainty has reigned both nationally and locally in the property market over the summer months, fundamentally due to 14 consecutive interest rate rises which finished when the Bank of England’s Monetary Policy Committee held rates at 5.25% in September.  Stubborn inflationary pressures have continued but appear now to be easing, with inflation falling to 6.7% through August.  September’s figures are eagerly awaited but reports in early October that food inflation had fallen for the first time in 2 years do point to some light at the end of the tunnel.  Challenges do remain with petrol prices rising again and the ongoing supply issues caused by the continuing war in Ukraine.

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