Sales market update: average prices are Ā£5,800 below where they were six months ago š»
#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 š:
Cautious recovery continues but larger-home sales lag behind
š¹ The average price of property coming to the market rises by 0.8% (+2,906) this month to Ā£365,357
š¹ That's an annual increase of 3.0% with an average of 57 days to find a buyer
š¹ In the East Midlands, market is up +1.4% this month to Ā£284,211
š¹ That's an annual increase of +3.3% yearly with an average 60 days to find buyer
š¹ Across the country, First-time Buyer average prices are Ā£224,453 - just Ā£500 lower than the exceptional levels we saw last year
š¹ Market showing signs of stability, much more than anticipated
š¹ The +0.8% is below the average monthly rise of +1.0% seen in March over the last 20 years
š¹ Sellers are more cautious when entering the market than we usually see at this time of year
š¹ The exception to this caution is a +1.2% monthly price jump in the larger home top-of-the-ladder sector
š¹ In contrast to more modest +0.4% and +0.5% respective rises in the first-time buyer and second-stepper sectors.
š¹ Overall, new seller asking prices are now Ā£5,800 below October 2022ās peak
š© Download Rightmove's full report here š©
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