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£976 PER MONTH?! Why are First-time buyers paying so much for an 'average' mortgage đŸ€·‍♂... As prices rise 6 months in a row 🚀

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

👉 Another month of MANIC BUYER ACTIVITY (26% higher than same time in 2019) with LOW NUMBERS OF HOMES FOR SALE = HIGHER PRICES (despite personal finances being squeezed) 🍋
👉 6 MONTHS IN A ROW: prices up again, this time by 0.4% (£1,354) to £369,968 (up 9.3% annually)💰
👉 In East Midlands, average asking price is £284,777 (up 10.1 annually) đŸ’č
👉 Compared to last year though, number of sellers are up 13% but number of available homes compared to 2019?... DOWN 40%!! đŸ˜Č
👉 MORTGAGE PAYMENTS GOING UP TOO! Interest rate rises + record prices = average first-time buyers will pay 20% more than at the beginning of this year (+£163) 📊
👉 Wait for it... That's a WHOPPING average of £976 per month!! 🍔
👉 Why/how have we got here?... Put simply, there are not enough homes to correct the balance between supply and demand = record prices for homes across the country 🏡

đŸ“© DOWNLOAD FULL REPORT HERE: https://www.rightmove.co.uk/news/content/uploads/2022/07/Rightmove-HPI-18th-July-2022-Final.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 👍

☎📧🗹

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Posted 25 July 2022
by Ali Baylav Managing Director Cavendish Residential

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