House Prices continue to rise

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House Prices continue to rise Posted On 25 February 2022

Busiest first two months to a year ever lead to even higher asking prices

January was busy. In fact, January was the busiest start to a new year ever for the housing market! However, this month has been even busier. Because of this it is no surprise that house prices have continued to rise. The start of a new year always leads to a price rise, however, what we have seen this year has been the biggest jump in 20 years, according to Rightmove.

In the past two years, asking prices have risen by nearly £40,000 compared to just over £9,000 in the previous two years before the pandemic began. This is down to what we have coined, ‘The Lockdown Effect,’ which basically means that during lockdown people re-evaluated their needs from their home, with things such as a home office and no longer having to think about travelling to work changing people’s priorities.

An increase in people selling their first home and moving to a larger home has played a part in the price rise, with an increase in buyers and a shortage of sellers still driving a highly competitive market. With people so desperate to find a new home, many are coming to the market early, and selling before they have even found their new property. This is sensible as the stronger position you are in, the higher the change of getting your dream home when it comes to the market.

Research has shown that March is typically the busiest month in the property market, and as such is the best time to put your property on the market. With competition between buyers being at its highest in March, it makes sense to put yourself in the best possible position.

So, for a FREE, no-obligation valuation, please contact us today!

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