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🏡 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 👍


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Posted 14 July 2022
by Ali Baylav Managing Director Cavendish Residential

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