A recent survey by online estate agent eMoov has uncovered an interesting trend in house prices identifying that houses sell for more during the school holidays! With an increase in prices of more than £12,000 on average! Their data uncovered that average selling prices for properties during term time were £296,100 and £308,150 during the holidays.
Russell Quirk, founder and chief executive of eMoov.co.uk, said: “As we wave goodbye to summer and finally see the kids return to school many will pause for a breath and a well-deserved cup of tea.”
The autumn half term is the best time to sell, as most customers want their transactions completed in good time before Christmas.
In other news, re-mortgage activity was strong in June of 2017, whilst the housing market growth has slowed down nationally, and there are a reduced number of new purchases taking place with a reported £20bn of lending taking place in July, against a £21.5bn in June 2017.
Remortgages were up to £7.3bn up from £6.6bn of remortgages in June 2017.
This may be a sign that house owners are locking in on low interest rates now, as opposed to sticking on variable rates.
The view from the market is that things are not growing as quickly as previously, but the market has not yet stalled, indicating that there is still a further period of growth in select areas before the market drips off.
Hertfordshire Business Funding specialise in Buy-to-Let, Commercial mortgages, bridging finance, development finance and mezzanine funding contact us today to discuss your funding requirements.
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