Highest Sales Figures this Decade

It’s safe to say that we’ve all had to endure a very long and uncertain start to 2020, but with lockdown easing across the UK, Rightmove has reported some incredible figures… In the latest house price index, July 2020 has seen the highest number of sales agreed in a month for over a decade. In fact, at a value of over £37 billion, it has trumped the previous high by 20%.

July also saw the highest number of properties coming to the market in a single month since March 2008. And whilst the national average for seller asking prices has reduced by 0.2% due to London, sales agreed has risen across all sectors dramatically. The first-time buyers’ sector is up 29%, second steppers have risen by 38%, and finally, the larger, top of the ladder homes has seen a considerable rise of 59%!

Whilst these stats show huge progress in the Property Market compared to the previous months, Rightmove have reported that these numbers are still rising, with last week’s sales agreed figures up by 60% compared to the same week last year. As property sales rise, so too does supply with July seeing a 44% increase in properties coming to the market compared to the year prior.

Rightmove’s Commercial Director comments on the figures: “Not only are we seeing an unusually busy summer period, but also parts of the lending and legal sectors are having to cope with capacity constraints, as some staff will still be on furlough while many will still be working from home.”

With the Property Market displaying high levels of activity, now is the perfect time to get your property on the market. Get in touch with our team of experts today to discuss marketing your property and the opportunities available.

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