National Property Market November 2018

We are on the home straight now for those that want to be in their next home in time for Christmas. If you are looking to sell, don’t wait until January to bring your property to market. Buyers will be looking to have a new home for 2019. With the likes of portals such as Rightmove and Zoopla experiencing their highest peak periods of views on the portals over the winter months and typically highest views on the likes of Boxing day for December, now is certainly the time to look to list your property on the market.

The house price index on Rightmove shows the average national asking price of property is £307,245 which is up 1.0% from last month and up 0.9% on last year. The East of England average asking price increased by 1.1% to £353,953 which was up by 0.1% on last year. The average time to sell in the region last month was 62 days according to Rightmove.

First time buyers house prices saw an increase of 0.7% to £190,842 whilst the second steppers saw a decrease of 0.1% this month making the average asking price £273,297 – that is up 1.7% annually.
In the rental market the average days to let agreed in Q3 of this year was 35 days outside of London which is good news for landlords and means tenants need to make sure they have their ducks in a row when looking to secure a rental. Average national asking rents in the East of England during this period are £926 per month which is a 0.6% increase of last year.

Annual house price growth moved below the narrow range of c2-3% prevailing over the previous 12 months. Talking about the housing market, “Housing market transactions remain relatively subdued, with little change in activity in recent years. There were 1.2 million transactions in the 12 months to September 2018, still 30% lower than the levels seen in the same period in 2007.”


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.