New record for house prices
The price of property coming to market has risen for the fifth month in a row, whilst year-to-date sales agreed are two per-cent higher than the previous election of 2015, according to Rightmove’s latest House Price Index.
The report states that home-owners with children under eleven are keeping the market moving, being twice as likely to move home than the average homeowner. This has helped push property prices up, making the average national asking price rise now £317,281, and setting a record for the second month in a row.
Meanwhile, other figures continue to impress. The average number of days to sell a property is at its lowest since July 2016 – 60 days. The South West saw the third highest annual change in house prices regionally at 3.7%. For buy-to-let investors, Bath is the second highest rental growth area outside of London.
This price growth combined with strong year-to-date numbers demonstrates that many people remain undeterred by the pre-election period, which typically cause a pause in activity.
In Bath, we have seen buyers ‘spring into action,’ as demand continues to exceed supply. We are seeing strong interest from investors, first time buyers, second home buyers, downsizers and second-steppers. With easy access to a city living lifestyle, good schools and excellent transport links into London, Bath remains a popular place for both homeowners and tenants.
It’s really encouraging to see that despite the Election and the Brexit uncertainties, people are not being put off from moving home. These figures should hopefully bring a lot of confidence to Bath’s property market and help boost buyer activity.