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