January Property Price Rise!

A £2,000 increase in the average price of properties has been recorded when comparing January 2018 with December last year in the UK market.

However, total sales are down by 5.5% when compared with the same month in 2017.

According to Rightmove, they have received 4 million visits per day to their website, signaling an increased level of interest in the sector.

The average time to sell a property has increased to 67 days compared to 55 last summer, indicating that sellers are having a hard time when compared with recent history.

Rightmove says that the level of activity typical between the start of the year and late spring due to many wanting to move during the summer school holidays, is not at the usual high level.

London housing prices have continued to fall with an average price of £600,926, which is down 1.4% for the month of January and 3.4% over the last year.

Property forecasters are predicting that house prices will remain flat in 2018 in most instances (Patrick Collinson, Guardian, January 2018).

Are you thinking of making a move this year? Our Mortgage team here at Westminster Wealth can ensure that you receive the most suitable mortgage for your personal circumstances, needs and objectives. Contact us today.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Our charges are usually between £395 and £995 depending on the type and amount of borrowing required and individual circumstances.