Rightmove Summer Boom: Summer mini boom takes usually quiet July-August figures through the roof!
Rightmove has recently reported a summer mini boom in a usually quiet July-August recording its highest number of sales agreed in a month for more than ten years! Buyers and sellers have rewritten the housing market rulebook this summer as more people are moving home than ever before.
Sales are 20% higher than the previous record with a record total value of over £37 billion. There's also been the highest number of properties coming to the market in a month since March 2008. In addition, there's an unseasonal record high for new seller asking prices in seven regions, but London drags down the national average to a 0.2% fall due to its own more typical 2.0% seasonal monthly drop.
According to Rightmove, momentum is still continuing to build. Supply is going through the roof too with 44 per cent more properties coming to the market compared to the same week a year ago. London has 69 per cent more properties coming to market, with the South East at 60 per cent and the East at 56 per cent.
Miles Shipside, Rightmove's commerical director says: "Many buyers do appear to be satisfying their new needs in these regions, as the number of sales agreed in each is also at a record level. The out-of-city exodus has helped push prices to record levels, for example, where working from home means a different lifestyle much closer to your new doorstep.”
To say July-August were busy months for Patrick Gardner Leatherhead, New Homes, Ashtead, Dorking and Bookham would be an understatement! Demand for houses continues to be incredibly high.
So if you're thinking of moving, please get in touch. Visit our website today to book your free valuation.