West Midlands January Property Market News
Sat 25 Jan 2020
Post Election Positivity!
It seems that the property market as a whole has seen an optimistic bounce back, post the election results. In fact, January has recorded the largest monthly price increase of houses coming to the marker ever seen at this time of year, with a brilliant 2.3%, or +£6,785.
It is evident that both buyers and sellers now see the political climate as a window of stability in which to get busy with their house move plans, previously on hold.
Andrew Oulsnam, Director comments:
The release of previously held demand for houses certainly suggests the Spring quarter is going to be a busy one. We’re absolutely seeing a large increase in buyer enquiries, and our valuers are being kept busy with new listings. However, we would encourage sellers not to get carried away with this positive activity and price themselves out of what is still a competitive market. If you want to capitalise on early-bird buyer enthusiasm and ensure a swift sale, get a professional valuation on your property from a local agent.
West Midlands Property Market Stats:
- Average Property Value - £230,222
- Monthly Increase – 2.6%
- Annual Increase – 4.2%
- Average time to sell – 68 days
Interestingly, the high cost of renting and great deals on fixed rate mortgages have seen a continuation of the higher proportion of first-time buyers make their step onto the property market, which looks set to continue as a general trend.