National Property Market News December 2019

Christmas time is upon us, brining opportunities to evaluate our year so far and what we want to achieve in 2020.

The house price index on Rightmove shows the average national asking price of property in November was £328,808 which is down -1.3% from last month and up 0.3% on last year. The East of England average asking price decreased by -1.2% to £346,981 which was down by -1.1% on last year. The average time to sell in the region last month was 66 days according to Rightmove.

In November, house prices for first time buyers saw an increase of 0.1% to £191,001, perfect if you are looking to get on the housing ladder. Second steppers however saw a decrease of -1.2% this month making the average asking price £273,291.

With Christmas on the horizon, many home owners that are considering the move next year think that waiting to list their property in January is the right choice. However, in December due to the popularity of this decision by the british public, this can lead to available stock on the market falling over this month. Which in turn makes those individual properties stand out more and have those interested buyers ready for putting in offers in the new year. Meaning your property is sold quicker and for a much better price.

If you are looking to buy or sell then why not give us a call. We are experts in the local market and have an in-house mortgage advisor too, whether you are a first time or second stepper, landlord or looking to downsize. Every client is assured the same level of service and expertise. Just give us a call on 01733 592020.