Sales market: Properties that need price reduction take 3 times longer to sell ⌚
#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
📸 LEAD IMAGE: Two bed Penthouse, perfect for a buyer wanting to live in the city centre | Guide Price
£305,000 📸
Latest from Rightmove's House Price Index:
🔹 The average price of property coming to the market for sale drops by just £21 this month (0.0%) to £375,110 after reaching a record high in May, as prices in June follow their familiar seasonal pattern of recent years and remain flat
🔹 Less expensive and more northerly regions are seeing stronger price growth this month, with five of the six
cheapest regions reaching new price records while the higher-priced East of England and London lag behind
🔹 The majority of buyers and sellers have continued their plans since the election was called, with the only sign of election caution being a slight drop in the number of new sellers especially at the typically more discretionary top-end of the market
🔹 Over the last four weeks, the number of sales being agreed has stayed steady at 6% higher than a year ago
🔹 Buyer demand has also remained stable and is now 5% higher than last year. This supports Rightmove’s poll of over 14,000 people, where 95% of those planning to move home said that the election will not affect their plans
🔹 In the two weeks since the surprise election announcement, the number of top-end sellers coming to market is 3% lower than a year ago, versus being 11% higher in the previous two-week period
🔹 Stubbornly high mortgage rates continue to stretch affordability, with many future movers likely to have a closer eye on when the first Bank of England rate cut might be, rather than pre-election housing market promises
🔹 The average 5-year fixed mortgage rate is now 5.04%, compared with 4.94% in January
** Vendors beware! Properties that need an asking price reduction take 3 times longer to secure a Buyer! ** ⌚⌚⌚
📩 Download full HPI report from Rightmove, click here 📩
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📸 LEAD IMAGE: Two bed Penthouse, perfect for a buyer wanting to live in the city centre | Guide Price
£305,000 📸
☎📧🗨
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#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
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