Ashford Property Market

£369,968 is The average price of properties coming to the market, according to Rightmove, July 2022. This is an annual increase of 9.3% and a monthly increase of 0.4%, which highlights the market and demand is still strong. Compared to July 2019, the demand by buyers is up by 26%!

"New first-time buyers face record prices and rising interest rates, meaning that their monthly mortgage payments are now 20% (+£163) higher than the start of the year." For example those with mortgages at the start of the year that were for £1,100 would now need an extra £220 a month. The removal of stress tests is due to take place next month, making it that little bit easier for first time buyers however due to the above, this may only relieve some pressure. Are you a first time buyer? If so, when looking for a mortgage, speak to an independent financial advisor, they have access to the open market which means they can find you the best deal to suit you.

Rightmove originally forecasted an increase of 5% in house prices by the end of the year. However Rightmove has now revised this to 7%. They believe this is due to the amount of demand still outweighing stock volumes. While there are signs of improvement with stock levels 13% higher than this time last year, stock is still 40% lower than 2019. If you would like to know more about the Ashford market, call us today on 01233 501601 or head over to our website for a valuation!