CM23 Market Update – November 2025

November has been another active month for the CM23 property market, with steady movement across new listings, sales agreed, and price reductions. Despite national headlines around the Autumn Budget, the local market has continued to perform with confidence. Here’s a breakdown of what happened in Bishop’s Stortford and the surrounding CM23 area this month.

New Properties Coming to Market

A total of 50 new homes were listed for sale in November, offering a good mix of property types and price points for buyers.

• Average asking price: £461,489

This figure shows that sellers remain confident, with pricing broadly consistent with the levels we’ve seen throughout the second half of the year.

Sales Agreed

Demand remained strong, with 56 sales agreed during November — outpacing new supply and highlighting the continued imbalance between buyers and available stock.

• Average agreed sale price: £528,309

This uplift compared with the average asking price demonstrates that well-presented and correctly priced homes continue to achieve strong results in the CM23 area.

Price Reductions

A total of 36 properties saw price adjustments this month.

• Average reduction: £19,818

While reductions are part of normal market activity, this level suggests sellers are responding realistically to feedback and ensuring their homes remain competitive in the run-up to Christmas.

Budget Announcement – What It Means for Homeowners

The Government’s budget announcement this month brought little immediate change to the property market, but a few points are worth noting:

Mansion Tax Introduced

A new annual charge will apply to higher-value homes from April 2028:

• Properties over £2 million will pay an extra £2,500 per year

• Properties over £5 million will pay an extra £7,500 per year

This is unlikely to impact the majority of homeowners in CM23, but it may influence premium London buyers who traditionally feed into our local market.

Landlord Tax Increase

Landlords will face an additional 2% increase in tax, which may affect investment yields and buying appetite over time. However, rental demand in Bishop’s Stortford remains extremely high, and well-managed properties continue to perform strongly.

Summary

Overall, November has been a busy and positive month for the CM23 market. With more sales agreed than new listings, demand remains solid — and despite national policy changes, buyer confidence appears unaffected. As we move into the winter period, pricing sensibly and presenting properties well will continue to be key in achieving strong results.

If you’re considering selling or letting in CM23 and would like an accurate valuation or market advice, our team at Willmott & Lake is always here to help.