Demand for New Instructions is at a seven year high. According to Rightmove, over 45% of the homes currently on the market have been sold subject to contract, which represents the highest percentage recorded by Rightmove in over seven years.
As well as this, asking prices seem to have stabilised in July representing a 0.1% rise in July, which when compared to July of 2016 is an overall growth of 2.8%.
Miles Shipside, Rightmove director, said: “A year on from the shock referendum result and a subsequent dent in activity levels, the fundamentals remain strong.
“Low unemployment, low-interest rates, strong demand and historic undersupply of homes are mitigating any wobbles in confidence and as a result, nearly half the properties on the market, over 45%, have sold signs slapped across them.”
In terms of how this affects the market here in Leeds, Harrogate, Wetherby and Wakefield, this proposes an opportunity for those looking to move house, as with the high number of buyers it is an ideal time to put your property on the market.
So if you’d like to book a free valuation with Manning Stainton, get in touch with us by clicking here.