📢 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? 😲

🗝 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 🤷‍♀️
➡ 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 💪
➡ 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 🔻
➡ 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 📈

🤷‍♀️ So... why is all this happening right now? Answer: it's all down to a significant lack of homes for sale 🚫

📩 DOWNLOAD FULL REPORT HERE: https://www.rightmove.co.uk/news/content/uploads/2022/05/Rightmove-HPI-23rd-May-2022-Final-1.pdf 📩 

𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝘄𝗼𝘂𝗹𝗱 𝗮 𝗯𝘂𝘆𝗲𝗿 𝗽𝗮𝘆 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝗵𝗼𝘂𝘀𝗲 𝗶𝗻 𝘁𝗼𝗱𝗮𝘆'𝘀 𝗺𝗮𝗿𝗸𝗲𝘁❓ Get in touch with our CAVENDISH EXPERTS 🦹🦸 and we'll let you know 👍

☎📧🗨

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