North West House Prices See Highest Annual Increase
What is happening to house prices right now? Check out the facts here.
The North West has seen the biggest annual increase in house prices compared to any other region with a 3.9% increase. This is substantially higher than the national average of 1.2% with other regions seeing slower growth. So how is the market looking- check out the facts below.
What is happening to the housing market right now?
- New seller asking prices increase by 0.6% nationally month on month.
- This brings the average house price to a new record of £379,517.
- Buyer demand is 3% up on the same time last year.
- New sales agreed are 5% up on the same time last year.
- The number of new properties up for sale is now 14% higher than this time last year, meaning more choice of property.
- The average number of days for a property to sell in the North West is 58, this is lower than any region in England except for the North East.
Is now the right time to list your home?
Lower mortgage interest rates, recent base rate cuts and speculation of further cuts are bringing a boost to buyer confidence and affordability. This paired with record breaking house prices and month on month increases could suggest its the perfect time to list your home. Working with your estate agent to understand your local market and coming to market with the right price and marketing plan will give you the best chance of standing out.
If you are thinking of making a move then 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
Click HERE for a free instant online valuation.
*Data provided by Rightmove*
