Latest Property Market Report from Rightmove

Rightmove have issued their latest report today, below are some interesting stats to be aware of:

✳ The average price of property coming onto the market dropped by 2.1% (-£7,862) this month ⬇.

This is a bigger fall than usual at this time of year showing that motivated sellers are prepared to price aggressively to tempt hesitant buyers.

✳This is the largest monthly price dip in four years ⬇

✳2022 ends with asking prices 5.6% higher than a year ago ⬆

✳ The annual growth in 2021 was 6.3% ⬆

✳ The number of views of homes for sale on Rightmove is up 11% compared to the same period last year ⬆

✳ Rightmove forecasts that prices will drop by an overall average of 2% next year ⬇

✳The time it takes to secure a buyer, which was 31 days in April, has risen to 44 days ⬆

✳ As mortgage rates settle down, buyer demand over the past 2 weeks is 4% up on the same period in 2019 ⬆

✳ The biggest monthly falls were in the South West (-3.4%) and the South East (-2.7%) with the smallest falls in the North East (-0.9%) and the East Midlands (-1.3%)⬇

(Source:Rightmove)

If you are thinking of selling or buying in 2023 please do contact Millbank Estate Agents and we will be happy to discuss how we can help you.

☎ 01953 453838

Email: info@millbanks.com

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