As your trusted estate agent in Sittingbourne and North Kent, we have our finger on the pulse when it comes to UK houses prices and property market changes.
A wave of optimism swept across the housing market ahead of tomorrow’s Bank of England interest rate decision after Nationwide reported UK house prices rose 0.7% in January.
Alongside this positive news from Nationwide, our property market analysts at Dataloft reported that average new seller asking price rose by 1.3%, the biggest price rise for January since 2020. This is over double the 20-year average of +0.6%.
As mortgage rates fall and the economic outlook brightens, buyer demand is improving, with 42% of agents reporting that buyer demand is higher than a year ago.
The number of properties coming onto the market in the first week of the year was 15% higher than a year ago, indicating sellers' increasing confidence for the year ahead.
Accurate and realistic pricing for the local area remains essential for those looking to get moving this year.
How much is your Kent property worth?
For free, no-obligation advice on buying or selling a home in Kent, please contact our expert property team at Quealy & Co. We look forward to assisting you.
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Source: #Dataloft Poll of Subscribers, Rightmove (January 2024), Nationwide.
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