August's sales market update packed with latest facts and figures 📊
#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 Rightmove's latest HPI report:
🔹 The average asking price of newly marketed properties drops by -1.9% this month to £364,895 🔻
🔹 That's an average drop of £8,000 in last few months 💰
🔹 This is the biggest drop in asking prices at this time of year since 2018 (despite August's traditional summer slowdown) 🐌
🔹 In the East Midlands, £285,650 (down -1.4% this month, an annual decrease of -1.1%) 🔻
🔹 Sellers pricing competitively to attract a buyer against the backdrop of holidays, cost of living pressures, and the highest Bank of England Base Rate since 2008 📈
🔹 Having said this, average prices still £59,000 (+19%) higher than in August 2019 💵
🔹 However, number of sales being agreed is now -15% lower than at this time in 2019 🚫
🔹 Buyer affordability remains strong with lower prices, higher average earnings and downward mortgage trends ⏬
🔹 The average 5-year fixed mortgage rate is now 5.81%, down from 6.08% this time just three weeks ago and is currently showing tentative signs of further improvement 💳
🔹 Number of available properties remains historically constrained and is currently 10% lower than in 2019 🏡
🔹 Properties priced right from the outset find a buyer on average in 27 days, less than half the 66 days that it takes if the home requires an asking price reduction after it has come to market 😲
Pricing right in the current market is key to attracting a buyer!
📩 Full report from Rightmove here 📩
🌟 Is your property not generating interest? We wrote an article that will help for sure... Click here 🌟
🌟 Instant online valuation (immediate response, 60-70% accurate)... Click here 🌟
🌟 Remote consultant valuation (24-hour response, 80-90% accurate)... Click here 🌟
🌟 Face-to-face visit (time to suit you, 100% accurate)... Email Senior Valuer lisa.dahl-parsisson@cavendishproperty.co.uk to get started 🌟
📸 Lisa Dahl-Parsisson, Senior Valuer and Asset Manager at Cavendish Residential 📸
☎📧🗨
For our Daily Property News | Like, Comment and Share | Click here
#CAVENDISHEXPERTS in Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
For properties for sale in Nottingham from Cavendish Residential click here
For properties for rent in Nottingham from Cavendish Residential click here
Latest from the BEST ESTATE AGENT in Nottingham 🏆
Latest from the BEST LETTING AGENT in Nottingham 🏆