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Welcome to our round-up of some of the property news stories that have caught our eye this past month.
Donβt forget, if you need to know about property in Peterborough weβre more than happy to help.
Call us on 01733 641 642 or email us atΒ [email protected]
Prices Remain Strong
The average price of a house is still on the up, according to analysis of the figures by Halifax.
Looking at all the stats, the bank noted that through September the average UK property price is now priced at a record Β£267,587. Whatβs more, annual house price inflation is up to 7.4 per cent, from 7.2 per cent.
This is interesting because the Stamp Duty deadlines have passed, and so it is good to see prices still buoyed.
The slight fly in the ointment might be the fact that the Bank of England figures show the number of mortgages approved to finance house purchases fell in August 2021 by one per cent.
Perhaps there is a slight softening of the market overall.
Here inΒ Peterborough , we are still selling properties for, or above, the asking price. Whatβs more, it is only taking days for some properties to sell, and just hours for properties to rent out.
If youβve been thinking about doing something with your property, now is still a good time.
Overall though, supply is still down.
An ongoing issue in the property market has been further highlighted in a report that looks at key trends in the sector.
Landmark Information Groupβs Property Trends Report shows that for a fifth consecutive month, there has been a low number of properties coming to the market. Demand, as they say, is outstripping supply.
There could be a number of reasons for this, but we would say that if you really want to sell, get your property on the market now. There will be interested parties lining up to look around and any one of those could be a potential buyer.
Negotiating Confidence
Around 64 per cent of UK homebuyers and renters say they feel confident negotiating over property prices, reports PropertyWire. But six in 10 admit βthe biggest challenge is timing and knowing when to negotiateβ.
Itβs an interesting one. On the one hand, people say they are confident but actually, they donβt really know when to negotiate.
Itβs what one might call a paradox. But, thereβs a way through. Use an estate agent who can use their knowledge and expertise to negotiate at the right time.
We can do that for you! We know theΒ Peterborough inside out and so are able to take action when we need to.
Going Green Paying Off
Have you installed eco-friendly systems in your home? If you havenβt, you could be missing out.
This has been written about by many, including Property Reporter, which says that property website Rightmove has looked at house prices and Energy Performance Certificates.
Itβs been reported that people who have βupgraded their rating from an F to a C, are adding an average of 16% to the price achieved for their homeβ.
Thatβs a huge jump, but before you do anything, have a look at the costs involved and the efficiencies made. Youβve got to make sure the figures work for you. If you need any advice on this, give us a call onΒ 01733 641 642.
Next Move are your local property experts for the Peterborough area. Call us on 01733 641 642 or email [email protected] to find out how we can help you buy a new home or sell your property.