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📱 NO WAYYYY!! House sale prices up £55,000 in past two years compared to just £6,000 in the two years before the pandemic... Why is this happening? đŸ˜Č

🗝 Key findings from Rightmove's latest HPI Report 🔍:

➡ Price of property coming to market hits a fourth consecutive record of £367,501, up by 2.1% monthly (+£7,400) 💰
➡ Average asking prices have risen more than £55,000 in the past two years, compared to a £6,000 rise in the two years before the pandemic đŸ€·‍♀
➡ This price growth has never before witnessed in over twenty years of tracking prices 👀
➡ Activity levels remain strong and still significantly higher than pre-pandemic, though there are signs that the frenetic market is starting to ease đŸ’Ș
➡ The number of buyers contacting estate agents in the month is 31% higher than the more normal 2019 market 📧
➡ But down 14% compared to this time last year (mainly due to the SDLT holiday back then) 🌮
➡ Speed of market means available properties down 16% compared to last year đŸ”»
➡ And... down a staggering 55% compared to 2019 - new stock most desperately needed for two and three bedroom semi-detached homes 🏡
➡ Average monthly mortgage payments (£901) are back to being higher than rental payments (£887) after four consecutive interest rate rises 📈

đŸ€·‍♀ So... why is all this happening right now? Answer: it's all down to a significant lack of homes for sale đŸš«

đŸ“© DOWNLOAD FULL REPORT HERE: https://www.rightmove.co.uk/news/content/uploads/2022/05/Rightmove-HPI-23rd-May-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 👍


#cavendishexperts #houseprices #houseexpert #houseforsale #propertymanagement #realestate #landlords #propertyinvestment #lettings #lettingagent
#lettingsagency #estateagent #housing #propertyprofessionals #estateagency #propertyportfolio #propertysourcing #landlord #tenant #propertyinvestors #propertymarket #buytolet #letting #propertynews #investinproperty #propertyinvesting

Posted 25 May 2022
by Ali Baylav Managing Director Cavendish Residential

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