What's Happening In The Medway Property Market | June 2023 | Tom Dix Estate Agent in Medway скачать в хорошем качестве

What's Happening In The Medway Property Market | June 2023 | Tom Dix Estate Agent in Medway

Wondering what’s happening in the Medway property market? If you’re thinking of selling or buying a property or just generally interested in the property market then make sure to watch this right until the end as here’s your Medway property market update for June. In their latest market report, Rightmove report asking prices across the UK increased by 1.8% in May to reach a new record high, resulting in +1.5% annual price growth. They also report 3% increase in buyer demand vs the same period in 2019. Zoopla also report on a 1.9% increase in UK property price inflation year on year. Interestingly, in their May report, they compare figures in May this year vs the same period of 2018 to 2020. Buyer demand is currently 14% lower those years but 11% more sales are being agreed now and we have a 16% increase in flow of new supply and a 10% increase in stock of homes available for sale now compared to the pre pandemic years. This means confidence is high in the market for buyers and sellers alike. In Medway, available stock increased by 178 in May to 2159 properties available for sale. The average price of those properties increase to £389,000. New properties hitting the market for sale increase by 110 in May vs April and the average price of those properties increased to £354,000. Sales agreed also increased in Medway during May to 407 vs 391 in April. The average selling price sitting at £318,000. A key figure to note with a difference of £71,000 between average available stock prices and those properties being sold. The average price of a property being reduced stayed consistent in May as in April, currently sitting at £21,000. Days on market continued to increase in May to 140 vs 138 in April. The days of putting your own property of Facebook and selling it are long gone. To sell and sell at the very best price you need to be working with an agent who has a strategy in place and takes their marketing seriously to catch buyer attention amongst the increased amount of properties available for sale. Naturally and to be expected the volume of transactions are decreasing, resulting in agents being desperate for business to keep consistent income vs the pandemic years. Be careful of those selling a dream to you and signing you up exclusively for weeks on end, only resulting in them telling you to reduce the price later on down the line. If you’re thinking of selling your property and would like honest and professional advice from an expert in the market then please get in touch today. Head over to my website for a free instant online valuation. And if you’re thinking of buying a property please get in touch as I have lots of new properties coming to the market. If I have your number, you can hear about them before anyone else.