We can’t quite believe where this year has gone but here we are keeping a sharp eye on the housing market to make sure that we can be the community resource that you can rely on and can be as informative as possible. Each quarter we prepare a full regional housing report to pass all of this information that we know on to you in an easy to make sense of way. You can find these in the links below.
Following the trend of the last few issues of our report, house prices are still on the rise in comparison to the past 12 months with an overall increase of 7.8% between June 2021 and June 2022. Despite a downturn in mortgage approvals being made due to lenders being slightly more restrictive, gross mortgage lending is up a huge 66.6% helping to keep people moving with levels of transactions still rising with an increase of 36.7% year on year. No wonder we have been so busy.
The last few weeks have been full of huge changes that most of us won’t have ever experienced before, a change in monarch and prime minister taking the news headlines along with major changes in the cost of living and the way the majority of us spend our income predicted. The turmoil of the past few years has left us all questioning what normal is but we expect a return to pre-pandemic trends within the next 12 months.
Overall, the markets are starting to steady with prices remaining strong but a levelling of supply against demand creating a slightly calmer market to navigate. An average of 5% of properties within the area changing hands confirms this trend with average prices still creeping up albeit a little slower.
Read our Autumn regional housing market updates below by clicking on the links below.
