House prices and buyer demand are still climbing, but for how much longer? Take advantage of this continued property boom and sell NOW!
If you’re thinking of moving, now is a great time to sell your home.
Have a read of these key results from Rightmove’s latest House Price Index Report*…
The price of property coming to market hits a new record high for the third consecutive month, up by 1.6% (+£5,537) to an average property price of £360,101 and over the last three months by an average of £19,082 countrywide. This figure is the largest three-month price increase that Rightmove has ever recorded, with high buyer demand enabling sellers to ask and achieve ever higher prices.
With not enough property available on the market, sellers are able to find a buyer quicker than ever previously seen by Rightmove at an average of 33 days. This is twice as quickly as in the same period in the more normal market of 2019, with the average time to sell being 67 days.
All regions and all market sectors reach new record price highs, for only the second time since 2007. The number of transactions remains steady, with sales agreed 21% higher than the more normal 2019. Rook Matthews Sayer are following this pattern and have seen the number of sales agreed increase for the third consecutive month, up by 54% in March from January 2022!**
Furthermore, 53% of properties are selling at or over the full asking price, again the highest level ever seen. Rightmove’s analysis shows that properties are achieving 98.9% of the final advertised asking price on average, which is also the highest percentage since records began.
This property momentum is despite the growing economic headwinds, though Rightmove forecast that these headwinds will slow the pace of price rises as the year progresses. 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 – Rightmove House Price Index April 2022, https://www.rightmove.co.uk/news/content/uploads/2022/04/Rightmove-House-Price-Index-April-Final.pdf
** Independent research. Date range 01.01.2022-31.03.2022. Region is Newcastle to Northumberland.