Why this summer is the perfect time to buy a property Let's not beat around the bush – our experts are calling it now: Summer 2025 is shaping up to be brilliant for house hunters, especially with rate cuts on the horizon. But timing is everything in property. So when should you kick off your search? Yesterday would be great.
Key takeaways
Click a number to jump to that topic in the article.
- 1 Rate cuts predicted. The base rate is expected to drop to 3.75% by the end of 2025.
- 2 Not afraid of a little competition. Expert insight on avoiding being gazumped in a competitive market.
- 3 If the predictions are wrong? Considering the market might not act the way we expect this year.
- 4 A buyer's secret weapon. There are resources available to put you ahead of other buyers.
What do the predicted base rate cuts mean for your home purchase?
Good news on the horizon: the International Monetary Fund IMF forecasts two more Bank of England base rate cuts this year, potentially bringing it down to 3.75%.
But wait – what does this actually mean for you? Let us break it down simply:
The base rate isn't the same as your mortgage interest rate. Think of it this way: the Bank of England controls the base rate, while lenders set their own interest rates. Though they're connected, they don’t always act the same way.
These expected cuts are tempting many buyers to play the waiting game. So here's the catch: you won't be the only one. When rates eventually drop, expect a flood of eager buyers jumping into the market all at once.
"I've seen Foxtons sales teams through many market cycles, and all the signs point to a surge in buyer activity this summer. The buyers who succeed in competitive markets like this are the ones who come prepared and can move quickly.
But there's another factor that often gets overlooked – flexibility in your search. What sets Foxtons apart is our London-wide approach. Our negotiators aren't limited to small local patches like most agencies. If your dream home isn't available in one area, we can instantly expand your search across the entire London network.
I've seen how this opens up opportunities and helps buyers secure properties in a competitive market."
Jean Jameson,
Chief Sales Officer
Why waiting might cost you your dream home
When interest rates finally drop, suddenly everyone who's been holding back dives into the property market. Not just Londoners, but across the UK and with international buyers too, London property has long been considered a sound investment.
So, what happens next? Competition goes through the roof and suddenly you're facing bidding wars for properties you once had your pick of.
Have you heard of being "gazumped"? It's when you think you've secured a property only for someone to swoop in at the last minute with a higher offer – sometimes just £50k more – and steal your dream home. As agents, we have to pass all offers to sellers, and let's be honest, who'd turn down an extra £50k?
What if the experts' predictions are wrong?
Let's be honest – predictions aren't guarantees. Considering how complex the global economy is these days, nothing is set in stone. But even if the base rate doesn't drop further, today's mortgage market is already looking pretty good.
💡 Expert tip: the perfect time to buy isn't when rates hit rock bottom – you'll only know when that's happened in hindsight – it's when you find a home you love at a price you can afford.
At 4.75%, the base rate is at a multi-year low, and lenders are creating innovative mortgage products to entice buyers. In fact, there are already mortgage products with interest rates below 4% – remember, the base rate and interest rates aren’t the same thing.
Our partner broker, Alexander Hall, has access to fantastic options – including some you won't find on the high street. If you know where to look, you will find excellent deals already.
There's already good news in the mortgage market - read our latest mortgage articles:
Rates cut AGAIN: what buyers need to know about the evolving mortgage market
Mortgage rates below 4% are back
The rise of low-deposit mortgages: opportunities at 17-year high
Why smart buyers are preparing now
In the market we're expecting this summer, being quick off the mark will be your secret weapon. We’re not suggesting you rush into buying the first property you see – quite the opposite! Take your time finding your perfect match, but be ready to move fast when you find it.
How? Start with these simple steps:
1. Get your finances sorted early. That means having your mortgage agreement in principle ready to go. If you're a next-step buyer, have a clear plan for keeping or switching your current mortgage. A free consultation from Alexander Hall is a good place to start.
2. Line up your solicitor before making offers. Our panel at Conveyan can hit the ground running the moment your offer is accepted, potentially saving you weeks of waiting. Plus, they work on a no-sale, no-legal-fee basis, so there's no downside to getting them involved early.
3. Sign up to My Foxtons right away. When you register, our local offices get to know exactly what you're looking for. They want to make it happen for you, and we give them access to our entire network to find your best-suited home. So, they’ll give you the heads-up on properties we’re bringing to the market before they appear on Rightmove or Zoopla.
Ready to make this summer your time to buy?
The simple truth is this: the prepared buyer gets the keys. While everyone else is waiting for the "perfect moment," you could be settling into your new home.
Our experts aren't just saying this because we're estate agents. We're saying it because we see the market day in, day out – and the signs are clear. This summer is shaping up to be a golden opportunity for buyers who are ready to move.
Why not start with a free consultation with Alexander Hall to understand your options? Or pop into your local Foxtons branch for a chat about what you're looking for?
Then, when you find your perfect match, we get it done.
Source: This article was requested and reviewed by Foxtons Sales department, to ensure you have exactly the information you need to hand as you enter the summer 2025 market. If you have any questions, ask a Foxtons expert.
