Posts by Rightmove
Prices hit record high as properties sell at fastest pace ever recorded
National average price of property coming to market hits a new all-time high of £327,797, following a 2.1% (+£6,733) monthly jump Encouragingly, 145,000 properties were newly marketed this month, but not enough to meet buyer demand: Number of sales agreed up by 55% on same period two years ago, reducing the stock of properties that…
Read MoreNewquay hottest seller’s market with eight in 10 homes sold
Newquay in Cornwall has been named the hottest seller’s market right now, with 82% of all properties put up for sale this year already sold subject to contract City centres are still moving much more slowly, with Birmingham city centre the top buyer’s market, where only 18% of properties are sold subject to contract The…
Read MoreNew sellers spring into action and new record for home-hunter visits
The spring selling season has started at a level not seen in a decade, with the number of sales being agreed on Tuesday 23rd March being the highest daily number recorded over the past ten years A new record was set for visits by home-hunters to Rightmove this week, with over 9.1 million visits on…
Read MoreJump in chain-free homes as owners sell up and rent in short-term
One in five (21%) available properties on Rightmove are now chain-free, a jump from around one in six (15%) this time last year as sellers look to take advantage of record buyer demand The percentage of chain-free homes available is up in all regions and the biggest shift is in London, jumping from 12% of…
Read MoreRightmove House Price Index: Strongest spring sellers’ market in the past decade
Greatest excess of demand over supply over the past ten years, pushing up the average price of property coming to market by 0.8% (+£2,484) this month: Number of potential buyers enquiring about each available property in the month is at a record, and is 34% higher than the same period a year ago, which was…
Read MoreRental searches surges in Zones 1 & 2 as renters seek return
There are signs renters are taking advantage of falling prices by planning a move to Zones 1 & 2, with searches on Rightmove doubling in areas like Nine Elms, Battersea, and Clapham All of Rightmove’s top 10 latest rental hotspots are in Zones 1 & 2, a stark contrast to last August’s rental searches, when…
Read MoreFirst-time buyer asking prices over past year, 5 years & 10 years
In advance of tomorrow’s budget I’ve outlined below the latest first-time buyer asking prices by region, over the past year, past five years, and past 10 years. First-time buyer asking price growth over the past year and over the past five years was highest in the North West and lowest in London First-time buyer asking…
Read MoreMortgage guarantee scheme – Rightmove’s latest average 5% deposit and price growth
A mortgage guarantee scheme is set to be announced at the budget for all buyers up to £600,000, we’ve put together the latest figures on asking prices and how many properties could be eligible under the scheme. 86% of properties up for sale have an asking price of £600,000 or less Since the 2013 Help…
Read MoreRecord day as more home-owners plan to sell post-lockdown
Rightmove recorded its busiest ever day on Wednesday 17th February, with visits surpassing the last record set on 8th July last year when the stamp duty holiday was first announced A new record was also set for visits and leads to commercial properties as businesses prepare to reopen once restrictions ease, and searches hit a…
Read MoreRumoured stamp duty extension to end of June – latest estimates
Following the latest rumours that the stamp duty holiday could be extended to the end of June, here is the estimated effect it could have: Rightmove estimates an additional 300,000 property transactions in England could benefit from the tax saving, based on previous HMRC data If an additional 300,000 transactions made it through, buyers could…
Read MoreRumoured six week stamp duty holiday extension could save buyers up to £1 billion
Rightmove estimates that if the rumour the government may extend the stamp duty holiday deadline by six weeks came true it would mean between 120,000 and 160,000 additional property transactions in England could benefit from the tax saving. If 160,000 transactions made it through, buyers could save a huge £1 billion in total. The projection…
Read MoreRightmove House Price Index – Upwards price pressure resumes as demand grows while new sellers pause
After three consecutive monthly falls the average price of property coming to market surprisingly increases by 0.5% (+£1,522) this month, as upwards price pressure resumes One in five buyers who agreed a purchase in July last year have still not completed more than six months later, with an estimated 100,000 buyers in total still likely…
Read MoreBusiest January on record with new buyers undeterred by stamp duty holiday ending
Rightmove has recorded its busiest ever January, with visits to the site up by 39% on January 2020 and time spent on Rightmove up by 44% Prospective buyers contacting estate agents was up by 7% on January last year, and those enquiring about a property to rent was up by 14% The number of sales…
Read MoreCity centre rents suffer as tenants look to suburbs
Asking rents in some of the UK’s biggest city centres saw annual falls of up to 12% in the last quarter of 2020 as some tenants swapped centres for suburbs Inner London has been hardest hit with average asking rents falling annually by 12.4%, followed by Edinburgh city centre down 10% and Manchester city centre…
Read MoreDemand for warehouses in overdrive as online sales increase
Following today’s ONS retail sales figures, Rightmove, with the largest online commercial real estate (CRE) audience in the UK, reveals the increase in enquiries in the industrial and warehouse property sector: · So far this year, there has been a record number of enquiries for industrial and warehousing, with total enquiries on freehold properties up…
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