February market update

A Personal, bespoke estate agency based in Essex

February market update

This month is a really positive update, the following information was taken from Rightmove.co.uk and was produced by Rightmove with comments from Miles Shipside. 

it makes a really good read! positive news for our region! take a look and us know what you think? 

National average price of newly-marketed property rises by 0.7% (+£1,981) this month, consistent with the average 0.6% February uplift in the previous two years • With the average annual rate of growth at only 0.2% (+£714), annual wage growth of 3.4%* is now outstripping asking prices at the fastest rate since 2011, improving buyer affordability • New sellers in all northerly regions have the pricing power to ask more than a year ago, with six of these seven regions seeing annual price growth in excess of 2% • Prospective buyers in three of the four southern regions are seeing new seller asking prices cheaper than a year ago, indicating that buyers have the upper hand over sellers • Some signs of buyer hesitancy with number of sales agreed in January down 4% on prior year – will improving buyer affordability overcome uncertain political backdrop?

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