The latest report from Rightmove shows that the average price of UK property coming to the market for sale rose by 1.5 per cent this month to £368,118. There was aso an increase in buyer demand.
Average asking prices are still £4,776 below the May 2023 peak and the increase in buyer activity suggests that more are seeing a window of opportunity to buy. Rightmove analysts believe that the signs are that overall activity levels have now returned to steadier pre-pandemic norms. However, the elevated level of mortgage interest rates mean that the increased activity is skewed towards those buyers who are less sensitive to higher mortgage costs.
2 per cent and the average rent is £969 while in Sheffield the average rent rose seven per cent taking the average rent to £809. Neighbouring Manchester saw a 9.6 per cent annual growth taking the average rent there to £1,070 The average letting agent currently has 12 homes available for rent which is a fifth higher than this time last year but still 28 per cent lower than the pre pandemic average.
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