House prices hit record high and sell at fastest pace ever recorded!
Market Update- Rightmove is reporting that house prices are the highest they have ever been and that properties are selling faster than they ever have before. What is happening in your area?
The property market is booming! Take a read of the recent data and find out what is happening in your area.
Since estate agents returned to their desks in May 2020 the property market has gone from strength to strength. The recovery has been stronger than anyone could of imagined and there is still no sign of any slow down as yet.
So what exactly has happened to house prices? Here is a quick roundup of some of the data (stats provided by rightmove house price index)
House Prices
- House prices in the North West have seen a monthly increase of 2.2% and 9% annually ( one of the largest increase in the UK).
- The average number of days to sell a property in the North West is now 47, the lowest of any region n England & Wales.
- The National Average asking price of property coming to market is at an all time high of £327,797
- The average asking price of a home in the North West is £218,859.
- It is only the second time in 5 years that house prices have increased by over 2% in a month.
Other Significant Data
- Properties are selling quicker in the first two weeks of April than ever previously recorded by Rightmove.
- The number of sales agreed are up 55% on the same period two years ago.
- The number of houses selling within a week hit the highest level ever.
- Two & three bedroom semi detached homes are selling the fastest, this suggests that activity is now being driven by the mass market where few buyers will be achieving the maximum stamp duty saving.
- Wednesday 7th of April saw a record of over 9.3 million visits to Rightmove.
- March aw time spent on Rightmove surpass two billion minutes in one month for the first time ever.
Rightmove are suggesting that although some of the froth is likely to come off the market later in the year once government economic measures end, they expect activity to remain robust for the rest of 2021.
So is now a good time to sell up and move? Get in touch with us to discuss why now might be the right time to sell or get an accurate up to date valuation.
Contact us:
Bebington Branch
0151 644 6000
lesley@lesleyhooks.co.uk
Bromborough Branch
0151 334 5875
rachael@lesleyhooks.co.uk
Whatsapp (messages only)
07538771198