Property experts have given their predictions for house prices in two sought-after towns in Buckinghamshire.

After gloomy months for the housing market due to high interest rates and tough year due to the cost of living crisis, many are desperate for glimmers of hope in the new year.  

Despite the difficult market situation, Beaconsfield and the Chalfonts have shown some resilience thanks to their sought-after locations despite economic and political turmoil globally. 

Here is what property experts think the prices will look like in the new year in Beaconsfield and the Chalfonts.

Sales director at the Tim Russ Beaconsfield office Simon Minter said: “After a tough year where prices have dipped we were pleased to see the recent percentage drop in inflation and now hopefully look forward to 2024 when we believe the market will strengthen with the prospect of interest rates now being stable at worst and a measured drop at best - certainly a step in the right direction as energy prices relax and the cost of living increases have arrested.

Bucks Free Press: A four-bedroom house for sale in Chalfont St Peter for £1.95 million.A four-bedroom house for sale in Chalfont St Peter for £1.95 million. (Image: Strutt & Parker/Rightmove)

"The continuing war in Ukraine is, of course, out of our control but one would expect property values to stabilise and gradually rise from the Spring of 2024 thereby arresting the falling trend in 2023.

“Beaconsfield has always weathered these down turns in the market particularly well with its abundance of high value property and discerning marketplace.

"The draw of excellent schooling, both private and state, as well as fast rail access on the Chiltern Line to Marylebone, London make Beaconsfield a strong choice for high earning commuters, despite the growing working from home trend.

"Of course, ease of motor access to the M40/M25 from Beaconsfield is another major attraction." 

Savills Beaconsfield head of residential sales Ben Dommett said: “For the most part, the housing market in South Bucks has remained relatively resilient this year. Sensibly priced, ‘best in class’ family homes in well-served towns and villages like Amersham, Beaconsfield, the Chalfonts and Gerrards Cross have seen a lot of interest.

"To some extent that’s a reversal of the last two or three years where many buyers were looking for somewhere more in the countryside.

"The rise in cost of living and the increase in interest rates means that buyers are still having to be mindful of their budgets, but those who are looking are very committed.

"I would expect the market to remain price sensitive as we head into 2024  – and I don’t think we’ll see a significant shift until a more meaningful reduction in mortgage rates which is likely to be in the middle of next year.”