RE-BALANCING
The market continues to re-balance.
DEMAND is dropping to ‘Normal Levels’. The number of buyer enquiries and number of viewings and the volume of mortgage applications have all reduced to Pre Pandemic levels. According to Zoopla demand has fallen most in areas that have seen the greatest price growth over the last two years, such as the South West of England.
SUPPLY is still low, especially for houses in particular. This will sustain the market in the short term, even if the speed of growth is slower.
PRICES Theirs is still growth but at a much lower and normal level. The 3 MONTH house price growth has more than halved since the start of this year, down to 1.2% from 3.8% in the three months to February.
ON LINE VALUATION To get an up to date free on line valuation of your property click here https://www.onthemarket.com/instant-valuation/clarkes-estate-agents/