SALES MARKET UPDATE: Bigger than usual JANUARY BOUNCE 🏀
#CAVENDISHEXPERTS in 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 🔍:
Bright start to the year with valuation requests 3rd highest on record and softening mortgage rates
💠 The average asking price of newly listed property is up by +.9% this month (+£3,301) to £362,438
💠 Annual growth across the country over the last 12 months averages at +6.3%
💠 Average First-time Buyer property = £222,582
💠 Average time to sell = 52 days
💠 East Midlands average asking price = £286,753, up +1.8% from last month with +7.5% annual growth
💠 East Midlands: average time to sell = 52 days
🔸 After two months of falls, the average price of property coming to the market rises by 0.9% (highest since January 2020)
🔸 Buyer demand is up +4% compared to pre-pandemic January 2019
🔸 In last 2 weeks, buyer enquiries jumped by 55% (New Year activity usually around 45%)
🔸 On 5th January, valuation requests 3rd highest on record
🔸 However, the number of available homes for sale is still well below long-term norms
🔸 Mortgage interest rates soften (a few deals below 5% available!)
🔸 It’s still early days, but this is a more encouraging start to the year than many anticipated
📩 Download full House Price Index Report from Rightmove here 📩
👆 FOR AN INSTANT ONLINE PROPERTY VALUATION at the click of a button 👆
📸 MAIN IMAGE FEATURED PROPERTY: Property for Sale by Cavendish Residential | Fully refurbished, completely brand new stunning family home | Offers In Excess Of £325,000 | Claude Street, Nottingham NG7 2LA | More details here
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#CAVENDISHEXPERTS in 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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