🏡 HOUSE PRICES up 5th MONTH IN A ROW! But why on earth does it take 30 days to find a buyer, yet 150 days to COMPLETE a PROPERTY SALE?! 🤷‍♀️

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

👉 5th month in a row of rising asking prices up to £368,614 (+9.7% in last 12 months) 💹
👉 East Midlands average asking price £286,049 (+12.5% in last 12 months) 🚀
👉 5th month in a row of interest rate rises and further rises anticipated 📈
👉 Plus the escalating cost of living 🍅🍼⚡🚰⛽
So yes, prices are going up but this is the smallest rise since January 🤔
👉 Despite these costs, Buyer demand remains super strong 💪
👉 More than DOUBLE pre-pandemic 5-year average! 🥇
👉 Properties coming to market up 7% compared to June last year 🏡
👉 As a result, monthly price falls expected during the second half of the year 📉
👉 The 'Conveyancing log-jam' continues, with transactions taking on average 150 days to complete (50 days longer than the same period in 2019) ⏳
👉 Currently 500,000 properties sold (subject to contract) - a massive figure (44% higher than it was at this time in 2019) 😲
👉 So, on average it's around 30 days to find a buyer and 150 days to complete a transaction = ABSOLUTELY CRAZY 🤷‍♀️
👉 Our job is to REDUCE that 150 days down SIGNIFICANTLY for our Buyers and Vendors - and yes, we're VERY good at it! ✅

📩 DOWNLOAD report in full here: https://www.rightmove.co.uk/news/content/uploads/2022/06/Rightmove-HPI-20th-June-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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