As your local property professionals, we make it our mission to keep you well-informed about how the market is changing both nationally and within the local area.
Now that the Autumn months are quickly approaching and the summer holidays are over, we have looked back over the past 12 months to see how things have changed. Nationally, from June 2022 to June 2023 the prices have increased slightly by 1.7% which could be considered a slow rise in prices, however, looking back pre-pandemic, we are looking at around a 20% overall increase showing that property is still a great investment and long-term prices are still moving forwards.
Transaction levels remain resilient across the board with the first-time buyer market being the busiest as the lack of supply in properties to rent and the increase in monthly costs, encourage any renters who are lucky enough to have a cash deposit saved to move towards ownership.
Mortgage rates have also started to settle after the upheaval this time last year with forecasters suggesting that they will remain steady for the next few months.
Overall, if you are looking to sell, provided your property is priced competitively and marketed well, there is no reason why you should not achieve a sale quickly. If you are looking to buy, there is a good choice of property out there and the market is running at a steady pace to allow you the time to browse homes that meet your search criteria and find the perfect home. Key points are to check in with a financial advisor to check affordability before going out to look at houses, get yourself organised in readiness for the solicitors, and register your details with us so we can keep you in the loop with properties as soon as they hit the market!
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A further look into the current market conditions and forecasts for your local areas around Staffordshire, Shropshire and Cheshire can be found in the Market Reports below.
