Will An unexpected mini property boom
We monitor closely the Rightmove Houseprice index and so are interested to see that the average price of property coming to the Market in July is £320,265 up by an average of 2.4%.
The price of property coming to market is an accurate early indicator of demand, evidenced by unique buyer enquiries currently being up 75% so far this month compared to the same period a year ago according to Rightmove.
The number of sales being agreed so far this month is also exceeding the prior year’s figures.
Current activity levels clearly show that Britain is getting moving again, with the numbers of properties coming to market up by 11.1% this year compared to a year ago.
44% of newly listed properties in the first month after the English market re-opened have already found a buyer compared to 34% for the equivalent dates last year.
David Phillip commented: “ the busy, until interrupted Spring market has now picked up where it left off and has been accelerated further by homeowners reappraising their homes and lifestyles during lockdown as well as the time-limited stamp duty holiday. There is a window of opportunity for sellers to come to market and find a buyer tempted by the stamp duty savings.
While property is selling much faster than a year ago, it is important not to overprice and miss this window.”
If you are thinking of selling your home at this busy time and would like a free market appraisal call David Phillip on 01134 676 400 a: 86, Leeds Road, Bramhope, Leeds w: davidphillip.co.uk