Price Rises Slow Down

The Royal Institution of Chartered Surveyors (RICS) reveal prices grew at their weakest rate in six months.

Reports of house price rises have been a regular occurrence in the news over the last few months yet the most recent reports suggest that prices have started to level off as the Royal Institution of Chartered Surveyors (RICS) reveal prices grew at their weakest rate in six months. In some parts of the country the extreme weather conditions and flooding have caused a significant impact on this slow down in house prices as buyers lack the motivation to continue looking for a property.

Many of the price rises being reported are predominantly in the south of the Country and particularly central London is seeing a real property boom, yet the figures for the North of England have been much more reserved.

In March the Telegraph reported that more than half of postcode districts across England and Wales recorded rising house prices last month, in the most widespread growth seen for a decade. Yet prices rose by 0.2 per cent in Yorkshire and Humberside and 0.4 per cent in the North West indicating we seeing more stability around house prices locally, rather than prices rising dramatically.

RICS also showed that expectations for prices and sales are still around peak levels following 12% annual growth in market activity in 2013.

In the local market Ryder and Dutton are seeing more confidence as buyers return to the market and in turn an increase in activity levels. Whilst prices have risen slightly, it is a marginal increase and indicates that prices have held strong.

As we reach Spring traditionally this has always been a popular time to think about moving. Book a Market Appraisal with us and our experienced valuer will visit your home and provide you with advice on a recommended asking price and likely sale price, taking into account the location of your home, its condition and important features, the state of the property market and your own requirements in terms of timescale for a sale.

To arrange a market appraisal of your home contact us on 0161 925 3255 or alternatively request an appraisal of your home here.

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