A longer term look from Rightmove

So what can we tell you about what’s happening?

Rightmove’s economists tells us emphatically that the housing market is not broken.
And this is not 2008. There are vast quantities of mortgages available - albeit more expensive. Lenders have built far greater resilience into their mortgage offers, to reduce risk. And while some homeowners are sadly exposed with newly unaffordable mortgages, new buyers will have to adjust their expectations of the houses they can buy.

Demand up versus pre-pandemic average

Buyer demand over the last month was 20% higher than the pre-pandemic five-year average.

Average asking prices sitting just below record levels

Asking prices are 15% higher than they were two years ago, and they are just a few thousand pounds shy of a price record.

Steady improvement to supply

New sellers have been ticking up, and are now 8% higher than 2019 levels.

Second stepper asking prices remain at record level

The second stepper category (3 beds and 4 beds, excluding 4 bed detached homes) are at a record national asking price of £340,513.

Share:

Other recent news articles:

House prices more than £30,000 higher than this time last year while rents move upwards!

We’ve seen exceptional demand from buyers and tenants alike as summer is in full swing. As we look towards the autumn, we believe prices...

Read more

Prices fall though likely more due to holidays than rate rises

Price of property coming to the market sees first fall this year, down 1.3% in the month to £365,173 (-£4,795): - Prices usually...

Read more

★ ★ ★ ★

Chrissie was incredibly helpful throughout the...

"Chrissie was incredibly helpful throughout the purchase process. She was fantastic at chasing the vendor’s solicitors and she kept us informed at every stage."

View more on allAgents
★ ★ ★ ★ ★

Harry Hook, Chrissy, Tom, Mark & Rachel @ Arins...

"Harry Hook, Chrissy, Tom, Mark & Rachel @ Arins estate agents were instrumental in the sale of my house. They were very professional and all worked together, especially at the end chasing the..."

View more on allAgents
★ ★ ★ ★ ★

I only bother to write a review when I have...

"I only bother to write a review when I have exceptional service good or bad... Glad to report its been great as a customer of Arins, they rent my property me and have really taken all the stress..."

View more on allAgents
★ ★ ★ ★ ★

My house was recently sold by Harry Hook, I...

"My house was recently sold by Harry Hook, I was truly impress with the level of service; high quality photos, wellwritten descriptions Communication was always prompt and transparent. I was kept..."

View more on allAgents
★ ★ ★ ★ ★

Arins provided an excellent service in selling...

"Arins provided an excellent service in selling a home of a friend. Richard Broomes and his team were very helpful at all stages and ensured that I was kept informed and consulted on decisions. The..."

View more on allAgents


Register today for property updates
Register

Instant online valuation

60 - second instant online valuation
Get a valuation