๐Ÿ“ˆ North East Property Price Update๐Ÿ“ˆ

Mortgage rates are continuing to rise which has caused the average house price to drop by 0.2% nationwide.

In the North-East we have taken a bigger hit, losing overall an average of 2% in the month of July 2023 alone.

However, compared to this time last year, the average house price in the region is still up by 0.4% meaning despite the difficult market, we are continuing to grow annually & there are still active buyers who have budgeted to take into account the growing rates.

So, how do we win in today's market and ensure we achieve the maximum asking price?

๐—•๐˜† ๐—ฝ๐—ฟ๐—ถ๐—ฐ๐—ถ๐—ป๐—ด ๐˜†๐—ผ๐˜‚๐—ฟ ๐—ฝ๐—ฟ๐—ผ๐—ฝ๐—ฒ๐—ฟ๐˜๐˜† ๐—ฐ๐—ผ๐—ฟ๐—ฟ๐—ฒ๐—ฐ๐˜๐—น๐˜†.

Underpricing is never a good idea; you become tempted to take less than what your property is worth and you are not maximising your potential earnings.

As well as this, people tend to be sceptical of under-priced properties, assuming something must be wrong with it, and this tends to restrict the interest received.

However, in the current economic climate, overpricing is just as dangerous, if not more so.

Overpricing will put off buyers straight away meaning that you get very little interest or momentum in that very important first few weeks.

Then, in order to re-align with the actual market price, you need to make a reduction that is visible to buyers and may end up getting you even lower offers.

We have had over 15 years in the North-East property market so have an unrivaled knowledge of the area and how to get you the maximum return from your property regardless of the market.

We are offering a free, no-obligation valuation of your property so you can get an accurate idea of what your property could actually be worth right now.

Fill in the details on the link below and we will be in touch!


*statistics according to Rightmove