House Price Update
We’re now in May, coming up to the half way point in the year and the housing market has been relatively quiet so far. At the start of the year the market was uncertain with house prices continually falling from September 2019. Supply of homes for sale and demand for homebuyers looking to purchase was low, resulting in the declining house prices. However April gave us the biggest percentage increase in house prices for over two years, along with a glimmer of hope of things to come. Key figures:
Current Average House Price: £236,619
Monthly Change: +1.1%
Annual Change: +5.0%
Continuing on this positive note, this April marks 10 years on from the Financial Market crash. Since the massive slump in property prices that followed, they have recovered and are now worth a whopping £81,956 more.