AS THE first quarter of the year comes to a close, Paul Doyle, Branch Manager with Cumbrian-based H&H Land & Estates give us an update on the property market across the Northwest.

He said: “This year has got off to an amazing start with house prices in the Northwest averaging at £354,000 this month, breaking the £350,000 barrier for the first time.

“The Rightmove Report charts an 11.7% increase over the last year alone and this has been corroborated by our results at H&H Land & Estates.  We pride ourselves on our valuation skills, but even we have been surprised on occasion by the prices offered.

“The high demand is also reflected in the average days to sell, which is 36, but we are finding that many properties, particularly those at the higher end of the market sell much quicker, with some being snapped up in just a couple of days.

 

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“This is partly influenced by the trend towards homeworking continuing, with buyers increasingly searching for properties with either home office space, an additional bedroom, an outbuilding to convert, or room in the garden to build a space.

“As we enter this year’s Spring selling season there is the biggest mismatch between supply and demand for this time of year ever measured, with more than twice as many buyers as sellers.

“Therefore, if you are thinking of moving, now might be the right time to do so.  With inflation rapidly rising and the very uncertain international situation, who knows how long this house price boom will last.”

 

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