Posts by Rightmove
Searches for homes with air conditioning triple in year
New analysis from Rightmove reveals searches for homes with air conditioning have soared after a record-breaking hot summer: Searches for homes for sale with air conditioning have more than tripled in a year (+234%) Searches for homes available to rent with air conditioning are also up 74% compared with the same time in 2021 On…
Read MoreCoastal areas see biggest affordability decline during pandemic
Coastal local authorities have seen the biggest decline in first-time buyer affordability over the past three years, as house prices have outpaced average local salaries: Adur in West Sussex tops the list, where the average first-time buyer asking price is now 11.6 times the average local salary, up from 8.7 times before the pandemic Hertsmere…
Read MoreBills included becomes most searched for term and renters double search areas
‘Bills included’ has become the most popular renter search term, overtaking pets and gardens as a must-have for the first time, to help people have more certainty in their outgoings as the cost of living continues to rise The average size of area that people are looking in to find a new place to rent…
Read MoreRightmove House Price Index: 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 drop in August, and this 1.3% drop is on a par with the average August drop over the past ten years Summer holidays are taking priority and some new sellers are pricing more…
Read MoreDining Rooms Decline And Orangeries On The Rise
New analysis reveals the home features that have shifted in popularity over the last ten years: Garden offices, orangeries, summer houses, underfloor heating, bi-fold doors and open plan rooms have all surged in popularity Conservatories, greenhouses, dining rooms, fitted wardrobes all appear to be on the decline The pandemic-induced working from home has led to…
Read MoreRightmove data on potential interest rate rise
Average monthly mortgage payments for new first-time buyers are £976 per month, compared with £813 per month in January (+20%) If the rate rises by 0.25% the average monthly mortgage payment for new first-time buyers would increase to £1,003 nationally, and if it rises by 0.5% it would increase to £1,030 Average first-time buyer monthly…
Read MoreBuyers will expect discounts on homes with poor energy ratings in future
Buyers becoming more conscious of green features will try to negotiate discounts on the asking price of homes with the poorest EPC ratings in the next ten years, to factor in costs of making green improvements Home-owners who have made green improvements before selling have made as much as 16% extra on average, compared to…
Read MoreFirst-time buyer prices and rents rise three times faster than pre-pandemic
New analysis finds that over the past two years both first-time buyer asking prices and average rents for equivalent properties have risen three times quicker than the previous two years: Average monthly rental payments are 17% higher (+£128) than they were two years ago, compared to a 5% rise in the two previous years Average…
Read MoreRightmove House Price Index: Sixth price record but market cooling from boil to simmer
Price of property coming to market hits sixth consecutive record of £369,968, up 0.4% in the month (+£1,354): New first-time buyers face record prices and rising interest rates, meaning that their monthly mortgage payments are now 20% (+£163) higher than the start of the year More buyers may lock in longer mortgage terms to bring…
Read MoreRents grow at fastest annual rate in 16 years
National average asking rents outside London hit another new record of £1,126 per calendar month (pcm), rising 3.5% from last quarter and 11.8% higher than last year: Average asking rents outside London have now jumped by 19% (+£177) in the two years since the pandemic started, the same growth in rents that took eight years…
Read MoreSummer sellers jump into action with property valuation requests highest since January
The number of prospective sellers contacting estate agents to have their home valued is at its highest level since January, typically the first step for a seller coming to market: 22nd June was the fourth highest ever day for home valuation requests, and the busiest day for home valuation requests since May 2021 The number…
Read MoreRightmove House Price Index: Fifth price record this year but further signs of pace easing
Price of property coming to market hits a fifth consecutive record of £368,614, albeit only up by a modest 0.3% in the month (+£1,113), as the pace of price growth slows Affordability constraints, a better balance between supply and demand, and usual seasonal price drops will contribute to further slowing of price growth in coming…
Read MoreCity markets heat up as competition cools by the coast
New research reveals that competition between buyers and renters for homes in many seaside areas is beginning to cool as more homes become available and coastal demand starts to ease In Cornwall, competition between buyers is down by 27% on average compared to this time last year, and down by 31% for renters Across all…
Read MoreFourth new record puts prices £55,000 higher than pre-pandemic
Price of property coming to market hits a fourth consecutive record of £367,501, up by 2.1% monthly (+£7,400): Average asking prices have risen more than £55,000 in the past two years, compared to a £6,000 rise in the two years before the pandemic Activity levels remain strong and still significantly higher than pre-pandemic, though there are signs that the frenetic market…
Read MoreProperty prices double around Elizabeth Line stations
Rightmove’s new Elizabeth Line study reveals asking prices have more than doubled over the past decade in the local areas around Maryland, Abbey Wood and Stratford stations Despite delays in the line opening, the number of buyers looking to move near the stations has steadily surged: Buyer competition is now more than nine times that…
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