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Market Movements in Sales and Letting – Up or Down Jan 2013 – June 2013

CLIFFTONS belong to one of the largest networks of Independent Estate Agents in the UK with over 1,100 branches, actively working with large corporate business, companies, banks, part exchange, solicitors and new homes builders, trusted in the knowledge, CLIFFTONS adhere to the highest standards within the property industry.

As such, this allows us to see intimate data across the UK and in the South West.

SALES – A positive outlook with prices at a record high and selling times at 92 days.

The South West saw a decrease in new listings in June when compared to March. By June however 31% more properties were coming to the market than January 2013. It appears the market is finding a new level after new listing numbers increased 2013.

The Average asking price rose markedly each month up to June when at £262,727, prices were the highest on record, increasing £9,203 in just six months and 2.64% in Q2.

The average number of days required to sell property in the South West fell by 16 days, or 24.59% through Q2, ending at just 92 days. Considering against asking prices and a higher number of listings, this suggest a positive outlook for the region.

LETTINGS – Advertised rents up compared to this time last year. Average rent £790pcm.

The steady growth peaked in December 2012 at the high, average £799pcm and have dropped through 2013 to £790pcm, £9 but up from this time last year at £775pcm.

If you are thinking of Selling or Letting properties, call CLIFFTONS today for a free valuation.

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Posted: 3rd August 2013

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