Average house price has dropped for the first time this year
So far in 2021 house prices have risen every month, however, for the first time this year they have actually fallen by £1000. Which brings the average asking price of a home in Britain to £337,371 according to Rightmove.
There is a caveat though. It is only larger homes, those with five bedrooms plus, and four-bedroom detached houses that have dropped in price. Which possibly points to the impact of the end of the Stamp Duty Holiday, as it was these families which were saving the most on stamp duty. Also, it could be the effect of the summer holidays, which tend to be quieter than the rest of the year.
However, all other properties have yet again recorded record highs as buyer demand remains strong especially for first-time buyers and second-steppers. Those who put their moves on hold due to lockdown have now chosen to act which could lead to more properties coming to the market to appease the buyer demand which has seen prices continually rise so far this year.
We expect there to be an Autumn bounce again as people return from summer holidays and the school holidays come to an end, so now is the perfect time to be actively marketing and keeping your name in front of potential vendors. With properties available at a record low, and with buyer demand still high, it is time to act and get prepared for the busy autumn months ahead.
We all know how busy autumn can be with people trying to secure property ahead of time so they can move before Christmas, which is why we offer a host of products and innovative marketing ideas to ensure you achieve market share in your area.
To find out how The Property Collection can help you, or if you’re already a member and wish to discuss new bespoke products, please contact us today to arrange a FREE, no-obligation Zoom meeting with one of our friendly team.