In the January House Price Index, Rightmove recorded the busiest ever start to a New Year. The number of buyers enquiring about homes is 15% higher than the same time last year and the number of home valuation requests, in the first working week of 2022, was up 44% on the same period last year.
With the average conveyancing still standing at around 4 months, ensuring that all sales are progressed in an effectual manner is key and we have seen a dedication by all to clearing the backlog created by 18 months of unprecedented demand.
Mortgage rates are still incredibly low, even with the Bank of England recent base rate rise. There are still plenty of products available at incredibly low rates and many products aimed at getting first time buyers on to the property ladder. Read our latest update from Bond & Associates.
The same story can be told in rentals news. In their recent Rental Price Tracker, Rightmove reported that rental asking prices in the South East have increased by 9.8% annually. They go on to further predict asking prices will rise by another 5% due to the imbalance between supply and demand.
For White & Sons, 2022 will see a period of expansion. We recently opened our 5th estate agency branch, in Leatherhead. We have made some key appointments across the firm, with the view of expanded our Rural Property Services and Commercial Services departments.
As ever, should you require any assistance, we would be delighted to assist – just contact your nearest branch.
Summer sellers tempt buyers preoccupied by holidays”08 September 2023 Read article
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Established in 1817 White & Sons are award winning independent estate agent with offices in Dorking, Reigate, Horley, Oxted & Leatherhead. We are a forward thinking business which uses cutting edge technology backed by 200 years of experience to assist with all your property related matters.