Sales market update: average prices are £5,800 below where they were six months ago 🔻
#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 🔍:
Cautious recovery continues but larger-home sales lag behind
🔹 The average price of property coming to the market rises by 0.8% (+2,906) this month to £365,357
🔹 That's an annual increase of 3.0% with an average of 57 days to find a buyer
🔹 In the East Midlands, market is up +1.4% this month to £284,211
🔹 That's an annual increase of +3.3% yearly with an average 60 days to find buyer
🔹 Across the country, First-time Buyer average prices are £224,453 - just £500 lower than the exceptional levels we saw last year
🔹 Market showing signs of stability, much more than anticipated
🔹 The +0.8% is below the average monthly rise of +1.0% seen in March over the last 20 years
🔹 Sellers are more cautious when entering the market than we usually see at this time of year
🔹 The exception to this caution is a +1.2% monthly price jump in the larger home top-of-the-ladder sector
🔹 In contrast to more modest +0.4% and +0.5% respective rises in the first-time buyer and second-stepper sectors.
🔹 Overall, new seller asking prices are now £5,800 below October 2022’s peak
📩 Download Rightmove's full report here 📩
👆 FOR AN INSTANT ONLINE PROPERTY VALUATION at the click of a button 👆
📸 MAIN IMAGE FEATURED PROPERTY: For SALE by Cavendish Residential | Three bedroom duplex apartment in the Lace Market | Offers over £300,000
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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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