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Published on : March 21, 2018 15:26


House Prices Drop 0.3% Across The UK

What Does This Mean For The Property Market in Manchester?

House prices started 2018 with a modest 0.3 per cent drop across the UK as a whole, including 0.5 per cent fall in England, according to the latest UK House Price Index from the ONS and the Land Registry.

What should we make of this headline and what does it mean to homeowners across the Edward Mellor branch network?

The first thing we always say about these headlines is that they are averages. They are a reflection of the types of properties sold during that period and it is the change in the mix of those properties that can have a significant impact on the average as a whole.

If there has been a significant number of large and expensive homes sold in the period, it will push the overall average up and so on. I don’t consider these reports to be accurate or helpful.

On the ground, we know that there continues to be a shortage of houses for sale and this lack of supply is outstripped by demand and prices are continuing to push upwards.

Edward Mellor Board On Row Of Cottages

We are consistently seeing properties sell for prices at the top end of our expectations and even higher, which is great news for our vendors. Where time allows, as in the vendor is not in a rush to sell, we always look to test where the prices are and to achieve the best price possible.

For people who are thinking of selling, there are two compelling reasons to do so now:

Firstly, you can get a great price for your house now, quite possibly the highest price your property has ever been worth.

Secondly, if you are looking to move up the housing ladder, the house you want to buy is getting more expensive every day and the gap is widening.

We have produced a video about the cost of NOT moving, we hope you enjoy.

If you’re thinking about buying or selling a property, we’re here to help!

Email [email protected] and make the right move with Edward Mellor.

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