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June On Cusp Of New Record For Price Of Property Coming To Market

June On Cusp Of New Record For Price Of Property Coming To Market

Here at Letters Group we have a team of professional estate agents that are here to help you sell your property or buy a new property. Our professional estate agents in Peterborough keep on top of all the latest changes in the world of buying and selling homes so you don’t have to. 

Below you can find out about the latest changes in the price of property coming to market.

The price of newly-marketed property has risen by an average of 0.3% this month. This is an increase of £1,058. We have seen reports of all-time price highs in the East Midlands, across the North West, in Wales, Yorkshire and the Humber too. These all-time price highs have pushed the national average to within £91 of a new record. It is important to remember, this is all despite the background of the politically uncertain times we are going through as a country.

A better performance for new sellers coming to the market and sales agreed has been reflected in the market buoyancy in these areas, when compared to the national average annual change for the year so far. We were interested to see that sales agreed so far are better in the northern regions, down by just 1.7% year or year. However in the southern areas there does seem to be some hesitation as it is down 7.1% when compared year on year.

The regional pattern is evident in the number of house sales being agreed too. There is a clear and more marked reluctance of would-be sellers in the south. This means that there is less property choice for the buyers, which leads to few sales agreed in the southern regions.

However, research shows that the national average for the number of house sales agreed is down just 4.3% when compared to last year. Wales is setting new price records and is selling better than the national average. In fact Wales is 0.2% ahead of last year. We then look at Yorkshire and the Humber which is 1.9% down on last year. The North West is down by 3.3% and the East Midlands is down by 3.7%.

Please remember the housing market is ever changing. If you are looking to sell your home or purchase a new home please contact our team of professional estate agents in Peterborough directly. We can give you honest advice and guidance to help you make an informed decision about how the current housing market will affect you.