It is starting to look a lot like Christmas as the words of the song go. Decorations are in the shops, people are out buying and planning already and with only 7 more Fridays to go until the big day, our message is there is still time to buy or sell your home in that time.
The house price index on Rightmove shows the average national asking price of property is £313,435 which is up -1.1% from last month and up 1.4% on last year. New sellers are asking higher prices in 8 out of 10 regions despite sales agreed number being down. The East of England average asking price saw and increase of 0.7% to £350,671 up by 2.9% on last year.
The second steppers saw a 0.2% decrease this month making the average asking price £266,871 – that is up 2.4% annually. Rightmove report that second-stepper properties are the quickest to sell with an average of just 60 days to sell followed by first buyers being 62 days. First time buyers pricing was up 0.2% this month to £196,328 with an annual change of 2.4%.
Nationwide’s house price statistics for October showed a 0.2% increase on the average national selling price making it £211,085 with an annual change of 2.5%. Nationwide report that low mortgage rates and steady rates of employment growth are providing support for demand. One of the factors that has impacted to housing demand growth is international migration.
Property Wire reported that property prices in the UK are set to rise by 14% over the next five years according to their latest forecast. This means property continues to be a sound investment with more people thinking about buying a second property to secure their future than other types of investment.
If you are considering selling your home call us on 01733 592020 to see how our digital marketing techniques can make that happen for you. One of our Relationship Managers will talk you through how we can sell your property efficiently and be with you every step of the way.