Now is the Best Time to Market Your Property

News at Justin Lloyd | 28/06/2022

Sellers need to come to market in next few weeks to maximise their chance of a move by Christmas. The average time to get through conveyancing is now 150 days.*

June’s market insights

  • Price of property coming to market hits a fifth consecutive record of £368,614, albeit only up by a modest 0.3% in the month (+£1,113), as the pace of price growth slows.
  • Affordability constraints, a better balance between supply and demand, and usual seasonal price drops will contribute to further slowing of price growth in coming months, with annual growth still on track to be 5% by the end of the year:

Buyer demand for each available property is down by 8% in May compared to April, but remains 6% higher than last year, and more than double (+113%) the pre-pandemic five-year May average.

In addition, there are signs of more fresh choice for buyers, with the number of properties coming onto the market for sale up by 7% compared to this time last year, but still below 2019 levels.
  • Conveyancing log-jam means sellers need to come to market in the next few weeks to be in with the best chance of moving before Christmas, with the average time to get through conveyancing currently 150 days.
  • More than 500,000 homes are currently sold subject to contract, which is 44% higher than 2019.

If you are thinking of taking of advantage of the currently high property value levels, or would just like an informal chat with one of the sales or letting team, feel free to pop in and see us or call us on 01273 692424.

*Information from Rightmove CLICK HERE to read the full Property Price Index for June.