Medway Property Market Update
April 2nd, 2022
What is happening in the Medway property market?
Reports on the housing market recently seem to focus on price growth, this is of course averaged across the entire country. But what’s actually happening in your local market, and more specifically Medway.
Properties For Sale in Medway
In March 3174 properties were available for sale in Medway and the average price of these properties for sale broke the £400,000 mark for the first time ever. This is also the highest number of available properties we have seen available since October last year. But does this mean properties aren’t selling causing there to be more on the market? The answer is no, it seems buyers are yet to be deterred by rising cost of living and interest rates with 1105 properties being sold throughout March. According to Zoopla, buyer demand continues to rise with the average time to sell taking 29 days. So if you are thinking of selling in this market now is a great time to take advantage of high buyer demand.
New Property Listings in Medway
In March 1329 properties were listed for sale, buyers will be pleased to know this is the highest number of new sellers coming to the market in 1 month since June 2021. Kent Live placed Medway as the second most affordable place to live in Kent.
Rightmove forecast a “less frothy market in the second half of the year, as economic headwinds lead to a more evenly balanced market, though demand will still outstrip supply”
It’s clear the market needs more sellers so if you are thinking about selling please get in touch as I would love to help no matter what stage of the journey you are at. Give me a call on 07557783325.