House prices are still high, buyer demand is still great, it’s still a great time to sell your home!
Have a read of these key results from Zoopla’s latest House Price Index Report*… According to the Zoopla House Price Index for Q1 2022, average home prices rose by +8.1% in the year to February, up from +4.2% from February last year. Taking the average value of property £245,200.
There has been a busy start to the year, with the number of sales agreed in Q1 more than 30% higher than pre-pandemic levels. While the number of new homes for sale continues to build, albeit slowly, it is up 5% on the five-year average, it continues to edge up as pandemic led trends are likely to continue in the coming months, price growth and high demand trigger more homeowners to make a move.
Buyer demand is great news for sellers and boy is it high! Buyer demand surged at the start of this year, rivalling levels seen last year during the stamp duty holiday. This demand has been supported by the continuation of trends that emerged during the pandemic – households reassessing where and how they are living. In addition, the large rises in home values has also prompted some sellers to lock in gains, and make a move.
Since January alone, demand for property has risen by 7% in Newcastle.
The average time taken between listing and agreeing a sale is just 29 days, this figure is highly reduced on the time taken to sell even at the start of last year. Zoopla forecast the property market will ease to more sustainable levels over the course of 2022. So if you’re considering selling, now really is THE TIME TO SELL!
Here at Rook Matthews Sayer, we are still seeing very high demand as the property boom continues. We urgently need more properties in all areas to keep up with buyer demand!
Don’t delay, contact your local branch or book online today for your free, no obligation valuation!
With sixteen branches across the north east we are here to help
Choose your local branch here; Alnwick, Amble, Ashington, Bedlington, Blyth, Fenham, Forest Hall, Gosforth, Hexham, Jesmond, Morpeth, Ponteland, Ryton, West Denton, Whitley Bay or Commercial at Head Office.
(Article and graphic source – Zoopla House Price Index February 2022, https://advantage.zpg.co.uk/house-price-index-report/)