Asking prices continue to rise across Britain, as more people look at finding a home that suits them. Data shows that the first 6 months of this year have been the busiest we've ever recorded.
The level of demand is huge from buyers and they are pushing the national average asking price of homes to a new high. Increasing them by 6.7% since the start of 2021.
Why are house prices still on a rise?
Buyers are competing with each other, there's more people looking to move than there are homes for sale. Between January and June this year, 140,000 more sales were agreed on average than in previous years. 85,000 less properties came on the market showing a significant decrease in stock. This means that there has been a massive shortage of 225,000 homes for sale.
Specifically 3-4 bedrooms have been popular and no doubt you've seen how quickly they're selling. All agents would tell you, right now is a great time to put your property on the market. Our advise to buyers is make sure you're serious and your funds are ready to go.
Some good news - If you're looking for a 2 bedroom or less, prices haven't risen by as much but there still isn't a lot of them to buy.