Housing Market Update – A return to ‘normal’ for the economy and the property market

October Housing Market Update

Welcome to the Housing market update for October 2021.

In many ways, October marks a return to ‘normal’ for the economy and the housing market.  The final stamp duty holiday has ended, travel restrictions are easing, and the furlough scheme has drawn to a close.  The Chancellor will set out his roadmap for 2022 and beyond in the Autumn budget.

Annual Growth

The annual growth in UK house prices remains solid.  An average of independent forecasters expect prices will end the year 5.8% higher than where they started, with price growth of 3.9% predicted for 2022.

Demand for property in September was 12% higher year on year, with few signs of any significant drop off as Autumn takes hold. (Dataloft Demand Index)

There is little sign of any substantial change to the shortage of supply that has beset the market since the start of the year and stock levels per agent remain historically low (RICS).

Home movers who have already sold subject to contract, cash purchasers and first time buyers are in the best position to benefit from such a competitive marketplace.

Housing market update

There is still a high demand for property

We are still experiencing high demand for our properties, with many selling above asking price. On average nearly 5% over asking price. Our properties are quickly selling many at the launch event and with an average of 29 days.  This month we have sold 2 properties directly from pre marketing activity at a price that the owners were very happy with. Speak to us about how we can use a put together a bespoke marketing approach for your property.

We have still have buyers who are proceed-able who are actively searching for property but have unfortunately missed out. Particularly on family homes

Dont miss out on your dream home

Now that you’ve read our housing market update you’re sure to want to take a look at our properties for sale. We have lots of amazing homes for sale in the beautiful northwest of England.

There really is something for everyone. Why not browse our properties for sale here.

If you are looking to sell your property then our friendly staff would love to have a chat with you. Just get in touch on 01257 451673.