Tag: house prices

How To Price Your English Home For Sale In 2022

Posted on by colin_williams

As a homeowner in England, you may be wondering how to price your home for sale in 2022. You want to ensure that you get the best price possible, but you don’t want to undersell yourself, either. In this blog post, we’ll give you some tips on how to price your English home correctly and maximize your profits. Keep reading for more information!

How to price your home for sale in a buyers’ market

Buyers need to know how to price their home in a way that helps them connect with home buyers looking for houses. There is significant demand for homes in and around Petersfield, which is great news for vendors, but it doesn’t mean they can afford to be complacent when it comes to connecting with these buyers.

In the housing market, it’s all about price. You need to be competitive with your pricing in order to attract the attention of buyers who are looking for a great deal. However, you also don’t want to price your home too low and leave money on the table. The key is to find the right balance that will help you connect with the right buyer.

The housing market in Petersfield is very strong right now, with high demand for properties. This is great news for sellers, but it means that you need to be strategic with your pricing. If you price your home too low, you may miss out on potential buyers who are willing to pay more. On the other hand, if you price your home too high, you may have a harder time connecting with buyers who are looking for a great deal. The key is to find the right balance that will help you connect with the right buyer.

If you’re not sure how to price your home for sale in a buyers’ market, it’s best to consult with a real estate agent who can help you assess the current market conditions and come up with a competitive price that will attract the right buyers.

Factors to consider when setting your asking price

The housing market is always changing, and it can be difficult to know how to price your home. There are a few key factors to consider when setting an asking price. First, look at the overall housing market in your area. Is there high demand for properties? Are there more buyers than sellers? This will give you an idea of how much negotiating power you have. Next, take a look at the condition of your home. Is it in need of repair? Are there any major problems that will need to be fixed before selling? If so, this will impact the asking price.

Finally, consider the number of bedrooms and local facilities. If your home has more bedrooms than average or is located near popular amenities, you can set a higher asking price. By taking all of these factors into account, you can come up with a realistic asking price for your home.

Contact Williams of Petersfield for all your 2022 housing market needs

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Are House Prices Finally Slowing Down?

Posted on by colin_williams

Information contained in the Land Registry House Price Index indicates the average price of property, as of March 2022, stood at £278,436.

While there was a 9.8% annual increase, there was a slowing down in the rate of growth from the 11.3% recorded in February of this year.

This is the first time there has been a slowdown in the growth of house prices since December of last year. In a challenging market, people are looking for any sign of change, and inevitably, some people are pointing out this could signal as a sea change in the property market.

We are not as convinced about this as others, but it is worth noting, and looking at in more details.

Will the market change soon?

There will be many people sitting on the side-lines of the housing market right now. If you would prefer different market conditions before making a move, you’ll be looking for signs of change.

Jeremy Leaf, a former RICS residential chairman, said: “Although this is the most comprehensive of all the UK’s housing market surveys, it is a little historic. Nevertheless, the figures interestingly highlight the beginning of the change in the supply/demand balance.   Rising interest rates and inflation contributing to a drop in real incomes is resulting in a reduction in quantity, if not quality, of enquiries. We don’t expect property prices to fall noticeably anytime soon while the huge shortage of stock in some price ranges and locations remains, particularly as so many are still on fixed-rate mortgages or do not need to arrange finance.”

While there are many reasons why property prices might fall, the fact is as long as supply outstrips demand, it is likely property prices will remain high, and continue to rise. There will be fluctuations in the marketplace, but anyone hoping for a swift change might find this doesn’t happen as quickly as they would like.

How are house prices faring in Petersfield?

It is always helpful to consider house prices in the local area. According to Rightmove, house prices in Petersfield are faring as follows;

“Properties in Petersfield had an overall average price of £467,538 over the last year.

The majority of sales in Petersfield during the last year were terraced properties, selling for an average price of £402,904. Detached properties sold for an average of £759,404, with flats fetching £256,185.

Overall, sold prices in Petersfield over the last year were 3% down on the previous year and 5% up on the 2019 peak of £445,153.”

As you can see, locally, property prices are 3% down on the past year, which stands against the national trend.

Contact Williams of Petersfield for all your 2022 housing market needs

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Petersfield Offers Value For Money In Housing Market

Posted on by colin_williams

There is no getting away from the fact that value for money is essential when it comes to big buying decisions. As buying decisions don’t come much bigger than buying a home, this is something people need to consider.

At Williams of Petersfield, we know the local housing market well, and we stay in touch with what is happening across the country.

This ensures we provide you with the best standard of service when it comes to whatever move you wish to make in the property market.

House prices continuing to rise across the country

The February data from the UK House Price Index for February 2022 indicates that on average, property prices rose by 0.5% in the month between January 2022 and February 2022. The annual increase of 10.9% means the average property in the United Kingdom holds a value of £276,755.

For the English property market, there was an increase of 0.9% in the average house of prices between January 2022 and February 2022. The annual price increase in England of 10.7%, is just less than the UK increase. The average property value in England stands at £295,888; which is greater than the average property value across the United Kingdom.

According to the UK House Price Index for February 2022, the average price of property in the South East of England stands at £380,528. This presents a 12% increase on the February 2021 figure, but a 0.3% fall on the January 2022 figure.

Average property price by type across England

  • Detached properties hold an average price of £469,095 representing an annual increase of 14.4%
  • Semi-detached properties hold an average price of £281,313 representing an annual increase of 11.3%
  • Terraced properties hold an average price of £238,145 representing an annual increase of 8.7%
  • Flat/maisonette properties hold an average price of £250,047 representing an annual increase of 7.8%

How is the Petersfield housing market faring?

According to Zoopla, the breakdown of property type prices in Petersfield is as follows:

  • Detached: £886,665
  • Semi-detached: £472,786
  • Terraced: £427,555
  • Flats: £263,436

In the past 12 months, the same source says there have been 254 property sales in Petersfield, and that the average sold price is £575,783.

For all the property types, the average sales price in Petersfield is higher than the UK average. This isn’t a bad thing, there are many different buyers looking for property, and we believe the Petersfield housing market offers considerable value for money.

If you are looking for guidance in the Petersfield property market, or for property in surrounding areas, we are more than happy to assist you.

Contact Williams of Petersfield for all your 2022 housing market needs

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Property Prices Keep Rising

Posted on by colin_williams

As we make our way into 2022, it looks as though house prices are continuing to rise. This is something we have seen for ourselves at Williams of Petersfield, and it is apparent in the latest figures from a trusted source in the housing sector.

Latest ONS figures for English property market

According to figures published by the Office for National Statistics (ONS), average property prices in the United Kingdom, and for England, reached record levels in December 2021. The average price of property at the end of last year was £275,000. This was a record level, and it rose by £27,000 across the year.

For the UK as a whole, residential property price increased by 10.8% over the year to December 2021. For November 2021, the increase was 10.7%

In England, there was an increase of 10.7% for property prices for the year to December 2021. This is an increase on the 10.5% rise which occurred for the year to November 2021. Average house prices in England stood at £293,000 at the end of 2021.

What is happening in Petersfield housing market?

According to Rightmove, as of the end of February 2022, the Petersfield housing market is as follows;

“Properties in Petersfield had an overall average price of £510,827 over the last year.

The majority of sales in Petersfield during the last year were detached properties, selling for an average price of £783,004. Terraced properties sold for an average of £389,643, with semi-detached properties fetching £471,309.

Overall, sold prices in Petersfield over the last year were 14% up on the previous year and 15% up on the 2019 peak of £445,153.”

What are industry experts saying?

Jason Tebb, CEO of OnTheMarket, said: “Although this index is somewhat historic, it confirms what the market was witnessing as the year drew to an end – high levels of demand from buyers, combined with limited stock, further pushing up prices. If more interest now is how the housing market is faring as we head towards what is traditionally the busy spring period. While instruction numbers are increasing, the number of available properties is still some way short of meeting pent-up buyer demand. Sellers coming to market now may well find considerable competition for their home from the many motivated buyers keen to move and take advantage of competitive mortgage deals.”

Chris Hodgkinson, is the managing director of property investment specialists HBB Solutions, and he said: “We’re yet to see a let up in the torrential downpour of homebuyer demand that has washed over the property market pretty much since the start of the pandemic. As a result, those looking to sell are achieving a very good price which is driving property values ever higher. Current market conditions are so strong that even when transactions are falling through, sellers are securing another buyer immediately and for a higher price than they had agreed during their original sale. This won’t last forever though and those entering the market this year should tread with a little more caution. Although demand levels are likely to remain robust, buyers will start to feel the pinch caused by an increase in both the cost of living and borrowing. So sellers who persist with unrealistic asking price expectations will struggle to see them met.”

Contact Williams of Petersfield for all your 2022 housing market needs

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Stay In Touch With Latest UK House Prices

Posted on by colin_williams

It is fair to say there has been a lot ups and downs in the housing market of late. If you are struggling to keep up to date with everything that is happening in the market, we are here to assist you.

At Williams of Petersfield, we take immense pride and pleasure in supporting you, no matter what move you wish to make.

Are you up to date with the housing market?

According to the latest UK House Price Index figures from the ONS:

  • Average property prices rose by 13.2% over the year to June 2021
  • This is the highest annual growth rate recorded since November of 2003
  • Average property prices in June were up 9.8% from May 2021
  • The average house price in the UK reached £266,000 in June 2021, which is a record high
  • The June 2021 average house price in the UK is £31,000 higher than the June 2020 figure

Rise in average house prices across the UK

Breaking the average house prices increase by country sees:

  • English house prices rising by 13.3%
  • Welsh house prices rising by 16.7%
  • A 12% rise in Scottish house prices
  • A 9% rise in the price of property in the north of Ireland

What do industry experts say?

Sam Mitchell is the CEO of an online property market company and he said; “House prices continued on their upwards trajectory in June, with the latest ONS figures capturing the final frenzy amongst buyers and sellers before the stamp duty holiday scaled back. Despite the tax break now only being available to properties under £250,000, there are still other factors at play that will likely contribute to further house price increases in the months ahead. Historically low interest rates, an uplift in 95% mortgages and savings accumulated during lockdowns are all going to allow more people to enter the market.”

Sam Mitchell concluded by saying; “Let’s also not forget that the UK is still faced with a major supply and demand imbalance issue. A lack of new stock that fails to meet the demand we see today is enough on its own to push prices up. Particularly when we all appear to be looking for the same thing – a desire for more space, bigger gardens, and that now essential home office.”

Marc von Grundherr, is a well-respected analyst in the UK housing market, and he said; “Another behemoth level of house price growth both on a monthly and annual basis, no doubt influenced by the first of the staggered extensions to the stamp duty holiday as homebuyers purchasing above the £250,000 threshold continued to scramble to secure a saving before the clock expired.”

Marc von Grundherr concluded by saying; “The London market has seen a lesser degree of property market manipulation as a result of the stamp duty holiday. As a result, the capital continues to trail where property price appreciation is concerned but we’re seeing a far more stable market start to emerge and one that is showing greater long-term momentum as both domestic and foreign interest start to return. Sales are increasing, sellers are achieving a greater level of asking price than they were just a few months ago, and all of these indicators suggest a property market resurgence is stirring.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.