Facebook Pixel

🏡 HOUSE PRICES up 5th MONTH IN A ROW! But why on earth does it take 30 days to find a buyer, yet 150 days to COMPLETE a PROPERTY SALE?! đŸ€·‍♀

🗝 Key findings from Rightmove's latest HPI Report 🔍:

👉 5th month in a row of rising asking prices up to £368,614 (+9.7% in last 12 months) đŸ’č
👉 East Midlands average asking price £286,049 (+12.5% in last 12 months) 🚀
👉 5th month in a row of interest rate rises and further rises anticipated 📈
👉 Plus the escalating cost of living đŸ…đŸŒâšĄđŸš°â›œ
So yes, prices are going up but this is the smallest rise since January đŸ€”
👉 Despite these costs, Buyer demand remains super strong đŸ’Ș
👉 More than DOUBLE pre-pandemic 5-year average! đŸ„‡
👉 Properties coming to market up 7% compared to June last year 🏡
👉 As a result, monthly price falls expected during the second half of the year 📉
👉 The 'Conveyancing log-jam' continues, with transactions taking on average 150 days to complete (50 days longer than the same period in 2019) ⏳
👉 Currently 500,000 properties sold (subject to contract) - a massive figure (44% higher than it was at this time in 2019) đŸ˜Č
👉 So, on average it's around 30 days to find a buyer and 150 days to complete a transaction = ABSOLUTELY CRAZY đŸ€·‍♀
👉 Our job is to REDUCE that 150 days down SIGNIFICANTLY for our Buyers and Vendors - and yes, we're VERY good at it! ✅

đŸ“© DOWNLOAD report in full here: https://www.rightmove.co.uk/news/content/uploads/2022/06/Rightmove-HPI-20th-June-2022-Final-1.pdf đŸ“©

đ—›đ—Œđ˜„ đ—șđ˜‚đ—°đ—” đ˜„đ—Œđ˜‚đ—čđ—± 𝗼 𝗯𝘂𝘆đ—Č𝗿 đ—œđ—źđ˜† đ—łđ—Œđ—ż đ˜†đ—Œđ˜‚đ—ż đ—”đ—Œđ˜‚đ˜€đ—Č đ—¶đ—» đ˜đ—Œđ—±đ—źđ˜†'𝘀 đ—ș𝗼𝗿𝗾đ—Č𝘁❓ Get in touch with our CAVENDISH EXPERTS đŸŠč🩾 and we'll let you know 👍

☎📧🗹

#cavendishexperts #houseprices #houseexpert #houseforsale #propertymanagement #realestate #landlords #propertyinvestment #lettings #lettingagent
#lettingsagency #estateagent #housing #propertyprofessionals #estateagency #propertyportfolio #propertysourcing #landlord #tenant #propertyinvestors #propertymarket #buytolet #letting #propertynews #investinproperty #propertyinvesting

Posted 14 July 2022
by Ali Baylav Managing Director Cavendish Residential

Want more daily property news? Follow us on LinkedIn.

Property to Rent
Property to Buy
Property Valuation
Latest Property Investments