September's sales market update packed with latest facts and figures š
#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
šø Average price of a home falls by Ā£14,000 in a year according to Halifax Building Society š» Full article from BBC here
šø House prices see biggest yearly decline since 2009 according to Nationwide Building Society š» Full article from BBC here
šø House sales to slump to lowest in over a decade according to Zoopla š» Full article from BBC here
š And as always... Key findings from Rightmove's latest HPI report shows:
š¹ Average asking price of properties increase a little to Ā£366,281 (+0.4%)
š¹ In East Midlands, prices are down by -0.7% to Ā£283,550 (an annual drop of -1.6%)
š¹ Evidence shows sellers too optimistic on their pricing, not taking advice to price correctly from the outset
š¹ Trajectory indicates a 2% drop in the market over the year as a whole
š¹ New properties coming up for sale being -6% lower than the 10-year average
š¹ Buyer enquiries remain stable, down just -1% on 2019, but the economic
š¹ Sales agreed figures fall -18% compared to August 2019
š¹ First-time-buyer (FTB) sector continuing to out-perform larger homes
š¹ Mortgage rates decline for the 7th consecutive week!
š¹ Average 5-year fixed across all loan-to-value ratios are now 5.67%, down from 6.11% at their peak back in July
š¹ Buyer affordability stable due to lower prices, better borrowing rates and average earnings increasing
36.3% of properties are seeing price reductions (highest since January 2011)
š¹ Average size of the price reduction is 6.2% - at this level, a Ā£366,281 property would be reduced by Ā£22,709
š¹ 57 days to find a buyer, compared to just 35 this time last year!
š© Read Rightmove's report in full by clicking here š©
Pricing right from the outset is imperative...
š Is your property not generating interest? We wrote an article that will help for sure... Click here š
š Instant online valuation (immediate response, 60-70% accurate)... Click here š
š Remote consultant valuation (24-hour response, 80-90% accurate)... Click here š
š Face-to-face visit (time to suit you, 100% accurate)... Email Senior Valuer lisa.dahl-parsisson@cavendishproperty.co.uk to get started š
šø From left to right: Henry, Scott, Lisa, Emma, Sam and Joe at Cavendish Residential šø
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