Rightmove have just released their little book of property trends #RightmoveTrends
It makes some interesting reading on a national basis
- National asking prices increased 29% between 2012 & 2017
- 85% of home movers say Brexit has had no impact on their decision to move
- Properties near an ‘Outstanding’ primary school are worth £52k more
- 44% of UK buyers are cash buyers
- 37% of the UK population rents
- The most searched for city after London on Rightmove is Bristol
- 30% of property ‘sales’ fell through in 2016
- 56% visit an estate agent’s website before inviting them to give a valuation
- Over 120,000 properties have been bought with a Help to Buy equity loan
The one word I hear most often to sum up the current market is ‘uncertainty’. And with good reason. General elections and referendums have been a staple of the last few years and the outcome of the snap election means it’s unlikely we’ll be waiting five years for the next one.
It’s been one thing after another that could cause potential movers to stay put. Despite the uncertainty, people still want and need to move – whether they’re up-sizing, down-sizing, or family planning Rightmove traffic is at record levels. And with Help to Buy available on new builds, interest rates still historically low and investors holding back after last year’s stamp duty changes, first time buyers are getting on the ladder in record numbers.
In this kind of environment, the fundamentals of estate agency are more important than ever. It’s all about getting the right property at the right price. Properties that are well priced are still selling or letting quickly. Those that are overpriced are struggling, Rightmove data show that agents who price a property correctly from day one are 40% more likely to be the agent that ultimately sells or lets the property.
Miles Shipside – Rightmove Commercial Director
If you want to learn more about the Wharfe Valley Property Market, feel free to pop in for a coffee at our office for a chat with me, or failing that, visit the Wharfe Valley Property Blog, where you will find many more articles like this solely on the one topic of the Property Market in Ilkley, Otley and the Wharfe Valley – http://www.wharfevalleypropertyblog.co.uk email firstname.lastname@example.org