Rightmove states the average price of properties coming to the market across the UK now hits £368,614 which is the fifth month in a row to beat records. This month alone, prices have increased by 0.3% which works out to be £1,113, meaning the prediction for annual house price growth of 5% is still on track.
Buyer demand is still higher than last year by 6% and up by 113% compared to the pre-pandemic average for this time of year, however in the past month demand has dropped by 8%. Even though buyer demand has slightly dropped, the amount of new available properties coming to market has increased 7% compared to last year.
Currently across the board it is taking around 150 days for a home to complete, this means that those looking to move before Christmas need to start their moving journey as soon as possible.
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