According to the July 2017 Rightmove House Price Index, 45% of property on the UK housing market has a SOLD sign on it. This is the highest proportion of properties marked as sold than at any other time in the last seven years.
The UK housing market is seeing a robust demand from buyers, with 7.6% more sellers coming to market this month compared to this time last year; however, buyer choice is restricted by the sold signs as housing supply fails to keep pace with strong sales and buyer demand.
This month also shows a small increase in the average price of UK property coming to the market to £316,412 (+£312, +0.1%).
The East Midlands housing market slipped back very slightly, with average house asking prices in the area now £207,378 (-£749) year on year. The YOY annual change is still a positive +4.9%, second only to the West Midlands at +6.1%.
Chris Pick, Business Development Manager and Valuer at Newark and Southwell estate agent, Alasdair Morrison & Partners said:
“We’ve a long list of qualified buyers who want to buy property in Newark and Southwell. However, the availability of houses coming onto the market and the number of properties with sold signs means that many of them are having to wait to make their purchase.
“Despite the summer being a traditionally quiet time to put a property on the market, we are urging any prospective sellers to contact us to arrange their free market appraisal as our buyers are very keen to pay for the right property at the right price, meaning we could sell your property very quickly.
“Please call us on 01636 700888 or 01636 813917 to arrange your free market appraisal and let’s get you moving in 2017.”
