February saw RightMove release their latest House Price Index and we wanted to share with you some of the key points.
Our immediate area doesn’t always reflect the state of the market across the nation but it helps us to forecast how the market might change in the coming months and sets some benchmarks for supply and demand.
The research found that the demand for housing was proving resilient and we can understand that having had an active start to the year. So things are looking optimistic, if a little cautious. It also found that the average price of properties coming to market rose by 0.8% and that nearly all regions across the country saw a price rise except the South West which saw a marginal fall (£131).
RightMove have even found that January was their busiest month EVER! They received more than 141 million visits to the portal – so there is a lot of interest in the housing market even if this spike in browsing hasn’t led directly to transaction activity.
There have also been more sellers coming to the market with their properties in January, with the final figure 2% higher than the same time last year. We can see from this kind of information that the loom of Brexit seems to be subsiding and, while hesitant, sellers are looking to get their sale done before any further movement on our departure from Europe. We’ll have to watch this space to see whether the uncertainty continues or if things stabilise to prompt further activity.
In terms of high performing regions it was found that the Midlands was the best performing market with properties selling fast and prices rising three times faster than the national average – so if you are a homeowner in Northamptonshire or Warwickshire make sure you track that closely.
In our region the average price has increased by 1.7% over the last year with an average price of £400,726 and an average time to sell an impressive 73 days. Obviously drilling down to our immediate area of Beaconsfield and the surrounding villages, these regional averages are not so accurate. We have had a busy first quarter and the forecast is looking good for the rest of the year.
You can read the full RightMove House Price Index online.
If you are interested in buying or selling in the area, make sure that you contact your multi award-winning estate agent in Beaconsfield on 01494 680018 or email us. You can also follow us on Twitter and Facebook to see all the latest local and community news.
Photo credit: By Ink Drop