Want To Sell Your Property Up North? Good News!

Miller Metcalfe posted on 21st June 2018

Are you looking to sell in the North West of England? Well this is good news for you.

Rightmove have produced a House Price Index, which is the largest monthly example for residential property prices. Here is some exciting information about it!

The average price of a newly listed property continues to ascend and for the third consecutive month prices have gone sky high due to their £1364 increase. House prices are still considerably different between the northern and southern half of England. With strong buyer activity within the northern areas. In comparison to a less active southern region.

The northern regions have on average 4.3% less stock compared to May 2017. This is great for potential sellers and is more likely going to give them an upwards pricing power. However the southern region currently have more buyer choice with an average available stock increase of 17.5%. This will give buyers more choice and comparison when buying.

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Miles Shipside, Rightmove director and housing market analyst comments: “The national average new seller asking price continues to creep upwards. Setting a new record for the third consecutive month. Sales agreed by estate agents overall in May have bounced back from a slower start to the year. While still slightly below May last year they are ahead of 2016. This is a pleasingly strong flourish at the end the spring selling season given the political uncertainty and stretched buyer affordability.

At an initial glance all of this fits with a theme of ‘steady as she goes’ as the spring market concludes. However, if you dig a bit deeper, you’ll find that the main driver is good buyer demand in the comparatively stock-starved northern half of Britain’s housing market. This demand, fuelled by prices that in comparison to the south are still relatively affordable, have meant the number of properties left available to buy has dwindled in the north and increased in the south.” Information from – Righmove

Miller Metcalfe

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Want To Sell Your Property Up North? Good News!

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