Strongest Ever Spring Sellers Market!
Quick Read: House prices are once again hitting another record high, but how long will it continue?
Another new house price record has been broken as the average price of a property in the UK increases once again. We are now in the best spring sellers market on record with properties selling quickly and prices still on the rise.
Spring 2022 Statistics
- The average price of property coming to the market has increased by 1.7% this month to an all time high of £354,564.
- The average monthly rise is the largest seen at this time of year since 2004.
- The annual rate of increase in house prices is now 10.4%.
- Chance of finding a buyer in the first week is the highest ever.
- Almost half of properties are having a sale agreed in the first fortnight.
- In the North West the average house price increase in the past year is 11.7% with an average of 36 days to sell.
So how long will it last?
Rightmove says that all sectors of the market are buoyant and the market is expected to stay strong until economic forces balance differences in supply and demand. It is likely that the growth will be somewhat slower in the second half of the year however buyers will still outweigh sellers keeping strength in the market. The reason behind this is down to interest rate rises and challenges with the cost of living.
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