Housing Price Index – Proving to be interesting reading through extraordinary times!
Housing Price Index – Proving to be interesting reading through extraordinary times! New records set and forecasts rise . As we steer our way through an economic crisis and the ever-changing rules of Covid, the housing market seems to be having a boom and new national records are being set.
According to a recent Rightmove study and report we have seen the following:
New national record for the average price of property coming to the market, with a 1.1% (+£3,534) monthly rise along with prices now 5.5% (+£16,818) higher than a year ago, the biggest rate of increase for over four years, with Rightmove now forecasting annual growth rate to peak at circa 7% by December.
We have also seen a huge rise in activity levels throughout September and confidence in the market growing although, this has started to ease off as we reach the end of October.
Average time to sell of 50 days is quicker than ever before which has left agents with more properties marked as sold than available for sale for the first time ever!
Currently 70% up, on this time last year, on sales agreed and traffic through Rightmove has increased by 50%, which is its highest jump since 2006.
Number of active buyers is 66% higher than a year ago. The pace of growth is easing but sales agreed for October so far are still up 58% on the same period last year.
These figures are all encouraging and at Sandersons UK we are seeing the growth within all of our departments and branches.
How are Sandersons able to keep up with the increase in figures?
The difference starts here…..