Mortgage lender Halifax has reported this week that house prices in the UK rose by the most in almost 15 years during September. This came as the stamp-duty holiday came to an end – and the Halifax predicts that prices will continue to climb to new record high levels.
Prices rose by 1.7% from August, the biggest monthly increase since February 2007.
In annual terms, house price growth also accelerated to 7.4% from 7.2% in August having slowed in each of the previous three months.
The housing market in the UK went on fire after the first coronavirus lockdown last year as people working from home wanted bigger properties – and the stamp duty cut added fuel to this fire.
Ruddington continues to see extremely high demand and estate agent Benwell Daykin says most properties it lists for sale in the village attract multiple offers.
So how do the team at Benwell Daykin make sure they achieve the best possible price for their clients in a rising market?
Senior valuer Nick Aston explains: “In a rising market it is sometimes harder to predict what price a property will achieve. At Benwell Daykin we always strive to get the best possible price for our clients which is why I prefer to list my clients’ properties using a guide price – it allows the property to find its true price level and doesn’t hold it back if demand and the market think it’s worth more!”
If you would like to book a free, no obligation, valuation of your property – to see how much it is now worth – then you can contact Nick or one of the team at Benwell Daykin on 0115 990 2007 or by emailing info@benwelldaykin.co.uk.
