House prices now reach an average of £360,101, this means over the last month prices have increased by +£5,537 (1.6%). Since 2007, this is the second time that all sectors and all regions have seen record breaking prices across the board.
"Properties selling faster than ever, twice as quickly as in the more normal market of 2019." This time of year is always a busy period for the housing market as people want to be settled in their new homes for the summer. However, this mixed with already a high demand and such low levels of available stock means homes are being snatched up quicker than before. If you would like to move quickly and before the summer months, call us today on 01233 501601 and we can recommend your next steps.
In April 2022 Rightmove noted that 53% of offers accepted were at asking price or above. This is the highest level that has ever been recorded by Rightmove.
In the last three months Rightmove have stated prices have increased by £19,082. This is the largest increase for this short period of time that has ever been recorded by the portal. Due to a lack of available stock in the current market, sellers are able to increase their prices and ask for best and finals sooner than they would on a market pre-covid. Potential applicants also are finding it hard to secure a property, as they are sometimes finding themselves amongst others in bidding wars, so to avoid this are going straight in to offer with asking prices. This then as a whole is pushing prices up and up to new levels.
In the South East alone, there has been a monthly increase of 1.2% with a yearly increase of 10.6%. This means the average price for a property in the area now stands at £479,500. Would you like a free valuation on your home? For an instant valuation click here or for a free face-to-face valuation click here.
For further information, please head over to: