Family housing market has a spring in its step
Despite the uncertainty across much of the current housing market, families are increasing movement in the UK market this spring. Regardless of the national headlines, the market activity still remains resilient to buyers and sellers who have housing needs to satisfy. Particularly the family home sector as shown in new Rightmove statistics, we can already see the growth.
New data has shown the sale of 3 and 4-bed homes have risen by 0.7% each year and are exceeding any other type of property on the current market, which has fallen by 0.1% as a whole.
It's common for properties to come on the market as the spring moving season gets underway, but this month's 0.8% uplift for the East of England is the highest since April 2016 and the largest rise in a month since March 2018. Average house prices for the region is topping £227,093 this month, along with a decrease in the number of the 'days to sell' dropping to 67 on average.
Housing expert, Miles Shipside said: "No doubt there are still a lot of twists and turns to come, but this extension could give hesitating home movers encouragement that there is now a window of relative certainty in uncertain times."
The extension of Brexit means that the housing market's busiest time will be unencumbered with the discussion of how and when the UK leaves the EU. Allowing home buyers to make a decision on their future property, without the uncertainty of the last two years.
We are excited to see if there will be any further improvements to the housing market in the coming months. If you have any questions, please do not hesitate to contact your local Hayward Moon branch. We’d love to help you with the legal side of things.
With offices based in Ipswich, Colchester, Bury St Edmunds, Cambridge and Diss, we are well situated to help you with your move.