Medway Property Market Update | August

August 4th, 2022

<!– wp:acf/content-area { "id": "block_62e946b109f92", "name": "acf\/content-area", "data": { "content_area_label": "", "_content_area_label": "field_5eb2cd6b95a42", "content_area_title": "", "_content_area_title": "field_5e725e7a479fc", "content_area": "Are you looking to buy, sell or just generally interested in the property market? If so, here’s your Medway Housing Market Update for August 2022.\r\n\r\nIn July, available properties for sale in Medway reached their highest since May 2021. Across the UK however available property for sale is 40% lower than at the same time in 2019. This therefore means buyers have more choice available to them. We will therefore see an increase in the length of time properties are taking to sell. Rightmove report the average time to secure a buyer in the UK is at 32 days. This is still a low amount of days on the market compared to the national five year average, therefore the best way to describe this market is going from boiling to hot.\r\n\r\nproperty sold in medway property market update report august 2022 tom dix bespoke independent estate agent available property for sale in medway property market update report august 2022 tom dix bespoke independent estate agent[\/caption]\r\n\r\nWe have also seen an increase in the amount of properties being reduced to compete for buyer attention. In Medway, 394 properties were reduced in comparison to just 215 in March of this year. This is further backed up by Zoopla who comment “House prices have hit a record high in April 2022, but the property market is showing signs of slowing as homes take longer to sell and more asking prices are reduced.”\r\n\r\nproperty reduced in medway property market update report august 2022 tom dix bespoke independent estate agent property reduced in medway property market update report august 2022 tom dix bespoke independent estate agent[\/caption]\r\n\r\nBuyer demand shows no signs of slowing with sales increasing in the Medway Towns from June to July. Attractively priced properties are being snapped up by buyers quickly and those that are not selling are on top of the market and helping other properties to sell by making them look more attractive.\r\n\r\nproperty sold in medway property market update report august 2022 tom dix bespoke independent estate agent property sold in medway property market update report august 2022 tom dix bespoke independent estate agent[\/caption]\r\n\r\nRightmove comment “Buyer demand is up 26% on June 2019’s levels, though down 7% on last year’s frenzied market”. The recent changes to mortgage lenders stress test will also mean more buyers will be able to come into the market to buy property. If you would like to find out what’s possible for you with a mortgage then please contact me today and I can put you in touch with a local advisor. With the average house price and house price growth continuing to rise, many homeowners without realising may have built up a significant amount of equity. If you’re not tempted to move by the record prices being achieved, you could benefit from an equity check to explore the possibilities of releasing money to help with the cost of living, pay off other debt or invest in other property. If you would like a free equity check get in touch today. Overall Zoopla predict house prices by the end of 2022 to grow 5% higher than at the end of 2021. If you would like any advice about buying or selling in the Medway property market then please get in touch with me today on 07557783325.\r\n\r\n \r\n\r\nhttps:\/\/youtu.be\/XiurfJ4iEoU”, “_content_area”: “field_5e725ef86b9c3”, “content_area_call_to_action_text”: “”, “_content_area_call_to_action_text”: “field_5eb2d79c7babc”, “content_area_call_to_action_link_type”: “”, “_content_area_call_to_action_link_type”: “field_5eb2d7a37babd”, “content_area_call_to_action”: “”, “_content_area_call_to_action”: “field_5eb2d7907babb”, “content_area_center_content”: “1”, “_content_area_center_content”: “field_5e78e9263c629”, “add_valuation_form”: “1”, “_add_valuation_form”: “field_5ec96c71fa54e”, “background_colour”: “theme-light”, “_background_colour”: “field_5ec50a7ea8ba5”, “add_top_spacing”: “1”, “_add_top_spacing”: “field_5eb94ffbe5568”, “top_spacing_size”: “section-padding-top-sm”, “_top_spacing_size”: “field_5eb95004e5569”, “add_bottom_spacing”: “1”, “_add_bottom_spacing”: “field_5eb950231ca34”, “bottom_spacing_size”: “section-padding-bottom-sm”, “_bottom_spacing_size”: “field_5eb9502e1ca35” }, “align”: “”, “mode”: “edit” } /–>