Recent analysis from Rightmove has revealed that, during October, house prices in the UK saw a monthly increase of 1.1% – the largest increase since the 1.4% rise seen in October 2014.
Other key findings
- Average time from first advertising on Rightmove to being marked as sale agreed by an estate agent is 63 days.
- The properties that are moving the quickest are in the second stepper property sector, where the average time taken to find a buyer is 60 days.
- Typical first-time-buyer type properties, with two bedrooms or fewer, also just undercut the average with time to sell being 62 days.
- Properties with five bedrooms or more with four bedrooms detached, with this “top of the ladder” category taking a current average marketing time of 76 days. The extra challenge to sell these larger properties is especially noticeable in London, where the average time to find a buyer is now 86 days.
- 2017 still remains ahead of 2016 on sales agreed numbers, with the year to date being 1.1% ahead of the previous year.