According to the latest Rightmove House Price Index published on the 23rd May, the average price of property coming to market has hit a fourth consecutive record of £367,501, up by 2.1% (+£7,400). What’s more, the average asking prices have risen more than £55,000 in the past two years, compared to a £6,000 rise in the two years before the pandemic. Here at RMS we have plenty of super desirable properties at a range of prices, check out our listings here!
The number of buyers contacting estate agents in May is 31% higher than the more normal 2019 market and the number of sales agreed are also up 12% for this year to date, compared to the same period in 2019. The figures show us that the high activity in the property market is still continuing and it’s still a GREAT time to sell your home if you’re thinking of moving. Ask for your FREE VALUATION today… You may be pleasantly surprised at the value of your property!
The Rightmove House Price Index across the country shows signs that the market is slowing down as the number of buyers contacting estate agents is 14% down on 2021. However here at RMS, we are experiencing HIGH buyer demand and still have plenty of buyers who want YOUR PROPERTY, so don’t miss out and book your FREE VALUATION today!
Tim Bannister, Rightmove’s Director of Property Science commented:
“People may be wondering why the housing market is seemingly running in the opposite direction to the wider economy at the moment. What the data is showing us right now is that those who have the ability to do so are prioritising their home and moving, and the imbalance between supply and demand is supporting rising prices. Though demand is softening from the heady levels we saw this time last year, the number of buyers enquiring is still significantly higher than during the last ‘normal’ market of 2019, while the number of homes for them to choose from remains more constrained. We anticipate that the effects of the increased cost of living and rising interest rates will filter through to the market later in the year, and a combination of more supply of homes and people weighing up what they can afford will help to moderate the market.”
If you’re thinking of selling NOW is the time, don’t miss this BOOM, click here to list with RMS!
Vendors, click here to find out what the Region’s leading estate agent*, with over 25 years’ experience can do for you, or contact your local branch for a property valuation today.
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(Article & Graphic Source “Rightmove House Price Index”, May 2022, 23/05/2022)
**Source: Internal data: 01.01.21- 31.12.21