Market Reports

August is usually a time for lazy days and annual holidays but this year, the month failed to read the script. There has ­not been the traditional pause in home moving activity this summer. As a result, there are some surprising statistics to digest.

The average asking price of properties for sale in Wellingborough increased every month since January 2021, when they were £215,584, all the way up to their peak in April 2022 of £266,097 (an increase of £50,513 or around 23%).

Since April however, there were two consecutive months where asking prices dipped followed by the most recent two months where they have again begun to rise, without reaching the heights of the April peak.

July provided the experts at Zoopla with the perfect opportunity to evaluate how the last two years have affected the UK property market. Its headline statistic – pandemic housing boom creates 270,000 property millionaires – won’t apply to the majority of homeowners but the rest of its analysis will.

House prices in Wellingborough have reached some incredible highs over the last couple of years.

The Government’s latest data shows house prices in the UK have risen by 12.4% in the year to date. This was up from a rise of 9.7% in March, illustrating how price appreciation has gained pace.

The devil is in the detail, however. Prices have risen a modest 0.3% in the last month, showing that while there is still room for appreciation, the rate of growth is slowing.

June is over and where did that month go? The mid-point of 2022 is pivotal in the property calendar – with six months of trading behind us. All eyes are on the market’s momentum and whether demand is being maintained. 

There has been talk about a lack of properties for sale for some time now but a new report released at the end of May has put a figure on the squeeze. Propertymark claims that in April 2022, there were 52% fewer properties available, compared to the same month in the previous nine years. 

Find out what is happening in the Wellingborough property sales and letting market in our May 2022 report, detailing the latest price changes and transactions

UK house prices continued to rise in April 2022 but the pace of appreciation has slowed, reports the Nationwide. In the last month, prices increased by 0.3% and although this is the ninth successive month of growth, it is the smallest monthly rise since September 2021.

As we close the first quarter of 2022, figures have started to arrive that show us whether momentum has been maintained in the first three months of this year. More importantly for those looking to buy, sell and rent imminently, we examine what has happened to house prices and rental values in the last four weeks.