Despite the recent slowdown in the property market, average house prices in the UK have risen by an average of just over £3000.00 in January according to Rightmove.
Mark Clegg in our Residential Property Team assesses the article:-
“This is great news for sellers and shows the downward trend through November and December could well be a blip. Locally, we have heard from agents who have noted that the number of enquiries and those looking to sell have began to increase following a period of uncertainty created by the September 2022 spending review. This suggests buyers and sellers were waiting for the mortgage rates to stabilise during this period which is likely to account for the lower-than-normal activity over the last few months rather than a predicted crash. Here’s to a period of stability over the coming months.”
Remember, we are offering 20% off our legal fees in the Residential Property Department during the month of January. Contact us today quoting “Jan23” and get 20% of our usual legal fees.