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The House Price Index October 2019

This year has been unlike any other in recent history. The property market has remained fairly resilient throughout all the economic and governmental uncertainty, especially when it comes to Beaconsfield and the surrounding areas.

We’d like to take a moment to look at the latest RightMove House Price Index, which gives a national picture of house prices and activity over the past month.

Autumn bounce

Autumn usually brings a bit of a bounce in the market as people returning from summer holidays in August and September get their houses ready for marketing and buyers start looking in earnest hoping to be in their new home for Christmas.  According to the RightMove House Price Index, in the last ten years we’ve seen an average house price increase of 1.6% in October – this year has been a little sluggish at just 0.6%.

While the number of sellers coming to market is down by 13.5% compared to this time last year, buyers remain undeterred. This is mainly down to Brexit uncertainty – speculative sellers are tending to ride out any potential storm, while serious sellers are pricing competitively in order to attract buyers. The number of sales agreed in October remains practically the same as a year ago while ‘fall through’ rates are the lowest they have been in four years.

Brexit Dominates 2019

Brexit has a lot to answer for when it comes to the property market, for much of 2019 we have seen reluctance to sell while foreign investment has bolstered the market as buyers from overseas grasp the opportunity to get themselves a UK property at a bargain price.

When it comes to properties for sale in Beaconsfield and the surrounding areas, we experience much of what we see nationally but to a lesser extent. Beaconsfield is one of the most desirable locations in which to live in the south of England, so we find there is high demand from buyers which subsequently encourages more speculative sellers.

What Will the Next Couple of Months Bring?

The PM has just announced that there will be a general election on December 12th 2019, so make sure you register to vote!
As we make our way to an ever changing Brexit deadline date, there is no way to really tell what will happen to the housing market once that deadline passes, there has been plenty of speculation; but we anticipate that market activity will pick up as those people delaying their move will decide to take the plunge.

We are likely to see an influx of new buyers looking to capitalise on competitive pricing and subsequently more properties coming to market to cater for the demand. Some potentially exciting times ahead as we move into a new era.

Get in touch

If you are looking to buy or sell a property in the Beaconsfield area make sure you come and speak to a member of our team about your property options, you can give us a call on 01494 680018 or email us. You can also find properties for sale in Beaconsfield on our website and follow us on FacebookTwitterInstagram and LinkedIn for all the latest updates.

Image – Immersion Imagery

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