Spring - the time of year when it is usually a busy market when it comes to sales activity. It’s statistically the time that many buyers and sellers are actively looking to move before the summer holidays arrive.
In fact, check out our blog on the very subject and some tips on how to sell your home now.
So what is currently happening with the housing market?
Property portal Rightmove recently gave an update on its April statistics, which saw average house prices edge up 0.2% monthly and 1.7% annually, to £366,247.
When it comes to first time buyers the average price is up annually by 2% to £224,963, while ‘Second-Stepper’s and ‘Top of the ladder’ purchasers will expect to pay an average of £339,359 (up 1.9% annually) and £666,566 (up 1.7% annually) respectively.
Interestingly, while this is an increase across the board, it is a smaller than average rise expected for this time of year.
So why is this?
While the housing market has seen higher prices and multiple bids on properties in recent years, many buyers are now seeing that with the market conditions settling down after the pandemic years, that they must price their home realistically to attract buyers.
As an agent it is our job to really impart our knowledge and guidance on the best price to market your home at. Pricing it at a competitive, yet reasonable rate will likely mean you will see your home at the right price, and fast.
Here at Clarendons we are on hand to discuss your needs and can offer a free valuation to help you get the ball rolling on your next move.
Get in touch with our team today.
