Rightmove have a lot to say about the housing market

A new study undertaken by Rightmove, which examines property moving data over the last five years (albeit excluding 2020) provides a number of interesting findings:

·         March is the month of the year when most buyers enquire about property

·         Around 75% of properties listed for sale are being bought, which compares well with the historical figure of 50%

·         On average, homes are currently finding a buyer in 39 days

·         Historically, homes find a buyer, on average, in 59 days

·         Historically, the number of new properties coming to the market is strongest in March

·         Even with this, March remains the strongest month to sell because of the high level of buyer demand

·         April and May are also strong months for sellers in the property market

How are house prices faring in Newton-Le-Willows

As of late February 2022, Rightmove states house prices in Newton-Le-Willows as:

“Properties in Newton-Le-Willows had an overall average price of £187,301 over the last year.

The majority of sales in Newton-Le-Willows during the last year were semi-detached properties, selling for an average price of £170,711. Terraced properties sold for an average of £145,345, with detached properties fetching £296,127.

Overall, sold prices in Newton-Le-Willows over the last year were 7% up on the previous year and 14% up on the 2019 peak of £164,716.”

What does the expert say?

Tim Bannister, Rightmove’s Director of Property Data, was quoted by Property Reporter as saying; “Spring has long been known as a peak point in the housing market calendar, with many buyers and sellers trying to get into a new home for the summer months. However, this interesting study confirms that for those considering selling this year, March has historically been the best time to come to market on average. For any sellers who might be conscious of coming to market at a time when the number of new listings has traditionally been high, the data shows us that the level of demand in March means sellers are likely to meet with multiple potential buyers competing for their home.”

Tim Bannister also said; “Those thinking of selling are also likely to be aiming to buy a new property and may be tempted to begin the search for their new home before listing their current one on the market. Due to the speed and competitiveness of the market, agents are reporting that it continues to be of high importance for those actively looking to become ‘power buyers’, to give themselves the best chance of securing their dream home. This means making sure they have their current property on the market or preferably sold subject to contract before beginning the search for their next home.”

Tim Bannister concluded by saying; “This spring is certainly shaping up to be a busy one, with buyer demand, new listings coming to market for sale, and valuation requests to estate agents from future sellers all continuing to increase compared to last year. Gardens are likely to be high on the list of priorities for home-movers, as outdoor space continues to be a strong consideration factor when deciding on a next home.”

Contact Fraser Reeves for all your Newton-le-Willows property needs

As local agents in Newton-le-Willows, we are keen to support vendors, buyers and landlords in the area as best we can. We offer an extensive range of services, aimed at helping you make your next move with confidence.

If you would like to arrange a property valuation, or discuss your property options, please call Fraser Reeves on 01925 222555.