Momentum is building across the UK housing market as spring approaches, and Rightmove report that the number of sales agreed are up by 7.4% on this time last year. The ONS (Office for National Statistics)also brings positivity as they report average property prices are rising in every region of the UK for the first time in nearly two years. Rightmove support this and report that the year has started well with average house prices up 3%.
James Elliott, Local Director at Davis Tate comments "This is a welcome contrast to the same time last year when Brexit was looming and house prices were depressed. There was a sense of nervousness that has now evaporated with the general election and the property market is heaving a sigh of relief that Brexit is over. We are seeing a lot of activity in the market across all our 12 branches across Berkshire and Oxfordshire. We've had a significant boost in the number of people getting property valuations and looking at what is available to buy. As Spring emerges it is likely that this trend will continue."
If you would like to know more about the local property market in your area, contact your local Davis Tate branch team, who will be delighted to provide expert property advice. Click here if you would like to arrange a free, no obligation valuation of your property.
Property price growth is currently strongest across Yorkshire and the Humber and the East Midlands, with price growth across the capital at its strongest level since October 2017.
The Royal Institute of Chartered Surveyors (RICS) and Rightmove report there has been a notable increase in buyer demand in January with both the HMRC and Rightmove citing sales volumes are on the rise.
Both market appraisals and new instructions are on the up, according to both RICS and Rightmove although demand currently outpaces supply. Prospective vendors are well advised to contact their local agent.