According to Halifax, house prices increased by 0.4% in February, which was the fifth consecutive month for a positive change. This means that the average house price across the UK is now £291,699. This average is only £1,800 off of the peak prices we saw in June 2022, which is fantastic news for the housing market and those who purchased following Covid. These figures could be due to the decreasing mortgage rates and growing wages. However, for those hoping to join the property ladder, raising a deposit is harder due to the increases in the cost of living. (Halifax, 2024)
Rightmove also noted that the amount of sales agreed in the first six weeks of the year were 16% higher than the same time as last year as well as 3% higher than 2019. This suggests that buyers are seeing better market conditions. Yet it must be said that price is more important than ever before; properties that are accurately priced are selling quickly, compared to homes which are over-priced that are sitting on the market. If you are looking to sell quickly then price is everything right now. To make sure you put your home onto the market at the right price, we would recommend having a few different valuations to ensure a speedy sale. (Rightmove, 2024)
If you are curious to see what your home is now worth on the current market, please call us today on 01233 501601.
Share this with
Email
Facebook
Messenger
Twitter
Pinterest
LinkedIn
Copy this link