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The housing market is showing signs of a post-pandemic recovery as sales prices recover.
Online property listings company Rightmove suggested there had been an increase in trust between buyers and sellers.
Rightmove highlighted how median sales prices for newly listed homes rose 1.8 percent in May.
The increase brings the median figure to £372,894.
Rightmove highlighted how newly listed home median sales prices rose 1.8 percent in May
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However, Rightmove emphasized buyers He also seemed more optimistic about the situation.
Buyer demand grew three percent compared to the same period in 2019.
change comes as mortgage market stabilizes after a rapid rate hike late last year.
Tim Bannister, director of property science at Rightmove, said: “This month’s sharp jump in new seller asking prices seems like a late reaction and a sign of increased seller confidence as we would normally see an increase monthly so large in early spring”. season.
Despite the recovery, the real estate market remains “very price sensitive”
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“One reason for this surge in confidence may be that the gloomy early-year predictions for the market are looking increasingly unlikely.
“What is much more likely is that the market will continue to transition to a more normal level of activity this year after exceptional market activity during the pandemic years.”
However the property The expert warned that the market remains “very price sensitive.”
He added: “The market is still very price sensitive and it is important that new sellers do not hurt their selling prospects by initially overpricing and lowering later, with dealers reporting that it is realistically priced new instructions that sell best. . ”
Regional trends suggest monthly increases of between one and three per cent in London, the South East, Yorkshire and Humberside, the South West, North West and West Midlands
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The most significant change seems to come in the so-called top-of-the-ladder properties.
Rightmove highlighted how top-of-the-ladder properties saw a 2.8 percent monthly change.
Second-step homes saw a 0.7 percent monthly change and first-time homebuyers saw a more modest 0.6 percent growth.
Regional trends suggest monthly increases of between one and three percent in London, the South East, Yorkshire and Humberside, the South West, North West and West Midlands.
Wales, the East Midlands and the east of England all saw smaller monthly increases, but the North East saw a 2.3 per cent monthly drop.
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