Claire Kendall, Richard Kendall estate agents

Despite higher mortgage interest rates, I am pleased to say that sales in the Wakefield and Pontefract areas have remained steady. Moving into the latter part of 2023, mortgage deals have stabilised, and rates decreased towards the end of the year.

Whilst we do not anticipate the Bank of England making any changes to the current rates anytime soon, I am pleased to report that in the last quarter of 2023 we are 22 per cent up on agreed sales in comparison to the same time last year. It goes to show that the confidence in the property market remains resilient and whilst we are not expecting any dramatic changes in market conditions in 2024, we are optimistic the supply will continue to grow, as the demand for buying a house is very much already here.

Turning to the rental market, 2023 saw an unprecedented demand for rental properties. We have also seen rents increase on average 13 per cent over this period.

The market is stabilising but demand for accommodation remains very high. We have also seen a large increase in the way a rental property has to be managed from a legal point of view and this will continue into 2024, with further legislation changes that landlords will have to adhere to.

Here at Richard Kendall, we firmly believe that our ultimate strength is in our ability to personally advise and guide all our clients. The public wants to see real value in the advice and service that they are receiving, having one individual looking after the sale or rental of their home from start to finish.