The Standard: Average price tag on a home jumped by more than £3,000 in February

Michelle has been discussing the recent topic from Rightmove about the increase in property prices where she has been asked to give her expertise and thoughts on the current situation.

The Standard website has picked up this lastest news and has included Michelles thoughts on this article.

The article starts off with the following:

The website [Rightmove] said the increase is in line with the seasonal rise it would expect in February.

In signs of growing market momentum, the average asking price is also up by 0.1% compared with a year earlier, following a period of annual falls in every month since August 2023.

Michelle comments

“It’s been a positive start to the year, particularly when compared to the slower pace of this time last year.”

“There’s a sense of optimism, helped hugely by mortgage rates dropping in recent months, which now seem to have settled and remained stable, giving prospective buyers assurance and confidence. With lower mortgage rates on offer and more properties for sale, now is a good opportunity for any would-be buyers out there.

“Despite the affordability constraints, we are still seeing a good level of activity in the first-time buyer market, which is encouraging the next time buyers to review their situation and supporting movement further up the property ladder. There is a good audience of buyers out there for properties priced well, also providing opportunities for those looking to sell.”

To read the full article, click here

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