Asking Prices Hit A Record High

10th June 2021 posted in PROPERTY NEWS

All homeowners who sell their property are keen to achieve as much money as they can when they sell their home. Selling for a higher price offers a sense of well-being as to how you’ve managed your property, but more importantly, it provides you with more options with your next move.

At Country Properties, we are pleased to say we have assisted many homeowners in achieving a satisfactory sales price. We know the local market well in Baldock, and we are highly experienced.

We also know the current market, and with demand outstripping supply, there is an opportunity for vendors to achieve a positive outcome. If you want to be best equipped for tackling the housing market in 2021, make sure you rely on a local specialist.

We know the Baldock housing market

As of June 2021, Rightmove says the following about the Baldock housing market;

Properties in Baldock had an overall average price of £355,020 over the last year.

The majority of sales in Baldock during the last year were terraced properties, selling for an average price of £347,070. Semi-detached properties sold for an average of £370,621, with flats fetching £188,714.

Overall, sold prices in Baldock over the last year were 11% up on the previous year and 11% up on the 2018 peak of £318,950.”

Rightmove say asking prices are rising

In the latest research published by Rightmove, asking prices have risen by close to £6,000 a month (on average) in the space of a month.

Some of the key headlines from the data include:

·         There has been an increase of £5,767 in the average seller asking price

·         This represents a month-on-month increase of 1.8%

·         The May 2021 average asking price was £333,365, which is a new record

·         The April 2021 average asking price was £327,797

·         There is a growing supply-demand imbalance across the country, and in some areas, this has led to a double-digit price increase

·         Some of the areas with a double-digit increase include Wales with a 13% rise, the North West, with an increase of 11.1% and Yorkshire and the Humber, which rose by 10.5%

Tim Bannister, Rightmove’s director of property data, commented: “Last year’s unexpected mini-boom is rolling on into 2021, with new price and market activity records again defying many predictions. Buyer affordability is increasingly stretched, but there’s obviously some elasticity left to stretch a bit more as many buyers are squeezing their way into higher price bands. This high demand, with both willingness and ability to pay more, has pushed the average price of property coming to market to a new all-time high of a third of a million pounds. In another twist, it is the regions of Britain further north that are leading the way, with some degree of catching up between average prices in London and the north.”

In line with Government guidelines, our Baldock Branch is open and our experienced team is working hard to support you.  To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 895061 or 01462 742077, or you could email baldock@country-properties.co.uk  or ashwell@country-properties.co.uk