According to the latest Rightmove House Price Index published on the 20th June, the average price of property coming to market has hit a fifth consecutive record of £368,614, up by 0.3% (+£1,113) in the month. Here at RMS we have plenty of super desirable properties at a range of prices, check out our listings here!
Despite five consecutive interest rate rises and the increasing cost of living, buyer demand for each available property remains very strong, being more than double (+113%) the pre-pandemic five-year May average. What are you waiting for? Figures show it’s still a GREAT time to sell your home… So ask for your FREE VALUATION today… You may be pleasantly surprised at the value of your property!
While buyers are currently being welcomed with more fresh choice, with the number of properties coming onto the market up by 7% compared to this time last year, this measure remains down 11% when compared to the same time in 2019.
However, there are signs that the property BOOM is beginning to ease. With a nationwide 8% decrease in buyer demand since April. Beating this trend, here at RMS, we are still experiencing HIGH buyer demand and have buyers waiting for YOUR PROPERTY, so don’t miss out and book your FREE VALUATION today!
Tim Bannister, Rightmove’s Director of Property Science commented:
“The exceptional pace of the market is easing a little, as demand gradually softens and price rises begin to slow, which is very much to be expected given the many record-breaking numbers over the past two years. When we look at the number of buyers contacting estate agents compared to 2019 or the pre-pandemic five-year average, demand is still very high compared to what was once considered normal. Entering the second half of the year, we anticipate some further slowdown in the pace of price rises, particularly given the worsening affordability challenges that people are facing. We expect this to bring the annual rate of price growth down from the current 9.7% towards the 5% increase that Rightmove predicted at the beginning of the year.”
If you’re thinking of selling NOW is the time! Don’t miss this BOOM, click here to list with the Region’s leading Estate Agent*. Or contact your local branch for a property valuation today.
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(Article & Graphic Source “Rightmove House Price Index”, June 2022, 20/06/2022)
**Source: Internal data: 01.01.21- 31.12.21