The prices of homes coming to the market for sale have been doing so at the highest increased rate for a second consecutive month, experiencing an increase of 1.7% alone in February. This data, provided by property website, Rightmove, covers the whole of the UK and highlights only two regions; London and Scotland, have not exceeded 10% increases over the last 12 months.
When looking at the data, there are many conclusions that can be drawn from this, here a few to consider;
The property market cannot sustain these rises indefinitely, particularly with the cost of living increasing at the current rate as well.
Each town is different, in fact individual streets within each town can be different so remember this is a generalised statement and cannot necessarily be applied to all homes. The best people to advise you on this is a local, experienced estate agent who can offer evidence of what the market suggests your home will be sold for.
The fact homes are rising quickly and are unlikely to be sustained, provides a very attractive time for sellers to put their homes up for sale. Added to by the fact during the spring there are far more homes come up for sale, sellers should start having a good choice of homes to buy too.
Winfields Sales & Lettings offer a multi-award-winning sales and lettings service across Devon and Cornwall. In order to find out how much your home may have increased in value recently, you can contact them for a free, no obligation appraisal by visiting their website or calling your local office.