Properties for sale up ⬆️ Buyer demand strong💪 Sales agreed up by 29% 🤝
#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
Key findings from this month's Rightmove House Price Index:
🔹 Average new seller asking prices rise by just 0.3% (+£1,199) this month to £371,958. This is much lower than the average seasonal 1.3% monthly increase at this time of year
🔹 Market activity remains strong, but the muted Autumn price increase comes as buyer choice and seller competition rise
🔹 The number of sales being agreed is up by 29% year-on-year, a strong rebound from the weaker market a year ago
🔹 Underlying buyer demand remains strong, with the number of people contacting agents about homes for sale up by 17% compared with this time last year, despite some uncertainty caused by the Autumn Budget
🔹 The number of available homes for sale is 12% higher than a year ago - and the highest per estate agent since 2014, intensifying competition to find affordability-stretched buyers, some of whom may also have pre-Budget jitters
🔹 The outlook remains positive for 2025, but affordability pressures remain, and some buyers may be waiting for Budget clarity and cheaper mortgage rates before acting
🔹 The average 5-year fixed mortgage rate is now 4.61%, up from 4.55% last week, the first weekly increase since May
🔹 The average annual energy bill for a home with an EPC rating of D is £2,465, up by 10% since September
🔹 Financial markets are still predicting two Bank Rate cuts before the end of the year. Combined with wage growth currently outpacing house price growth, which is also boosting affordability, this suggests an active 2025
Are you looking at selling your property? 🤔
Contact Lisa by completing the form opposite or emailing her directly (lisa.dahl@cavendishproperty.co.uk) 📧
📸 Lisa Dahl-Parsisson, Head Valuer and Asset Manager at Cavendish Residential 📸
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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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