Property Asking Prices On The Rise in the UK

UK property owners take note: asking
prices on British homes are on the rise. 

According to a recent house price index released by online property sell
website Rightmove, the average UK house sale price in early June was £309,439.
That’s a rise of nearly 0.4 per cent over the previous month.

Owners who’ve told themselves, ‘I should sell my property soon,’ could stand to benefit from a sell right now. As the market
sees its third consecutive month of property sell price increases, more Britons
are making more pounds on their properties. 

Northern Property Market Especially Lucrative
Property owners in the UK’s northern regions may bring in the largest monetary
returns on their property sell. According to Mansion Global, the inventory of homes for sale in the
northern part of the country has shrunk by nearly 4.3 per cent over the past
year. As a result, home buyers have fewer buying options and sellers have more
asking price power. 

Other UK regions have seen an increase in the amount of property inventory
being placed on the market, though asking prices have continued to rise in
these areas as well. Some inventory statistics of note by region: 

  • Southern
    : Property inventory has risen by 17.5 per cent
    in the last year. Though the increase in available homes for sale is
    higher here than in the northern regions, the market remains strong.
    Homeowners could see a significant profit on their property sell compared
    with just a few months ago.
  • East
    of England
    : This region saw the most significant increase
    in inventory over the past year, with a total of 24.9 per cent more houses
    for sale. Still, the average asking price has risen by nearly five per
    cent since 2017, with detached properties averaging £458,795, according
    to Rightmove.
  • Scotland
    and Wales
    : Inventory continues to see a drop in this
    region. In the past year, both Scotland and Wales have seen a decrease of
    over 10 per cent in overall housing stock. This decrease in inventory
    gives sellers the upper hand, paving the way for a significant profit on
    their home property.

Ready To Sell?
No matter where you are in the UK now is a great time to sell your property.
Doorsteps makes the process easy. Use our free 
online property valuation tool to see how
much your property is worth today.

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