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Prices Have Kept Rising

Sell My House Quickly in Manchester

Sell My House Quickly found another interesting article about properties in Manchester. Why house prices have kept rising in Manchester and the rest of the country in the middle of a global pandemic. Experts at Rightmove explain why the booming property market has reached record highs.

Prices Have Kept RisingAlthough many aspects of life came to a standstill over the course of the pandemic, one sector that has seen continued growth is property.

House prices keep on rising, with record asking prices across Britain.

For the last three months in a row, the national average has been pushed to a new high, at £336,073 as of June, according to Rightmove.

In Manchester alone, property prices have increased by 12 per cent in the last year, with terraced houses going for an average of £202,603.

So if you’re thinking of buying a new home, it can feel overwhelming as to whether now is the right time to move or whether it’s best to hold off until the booming market potentially calms.

Thankfully, experts at Rightmove have provided some clarity on the reasons behind the property price hikes and whether they think the market is likely to cool off.

Record number looking to move

The demand for homes is outstripping the number of properties available to buy, Rightmove says.

More than 180,000 new properties were listed on their website last month, but it’s still not enough to meet demand. Homes are selling faster than ever before, and not only that, a record number are being sold at or above asking price.

With many now working remotely and therefore commuting less, large, detached homes with big outdoor spaces are in high demand from buyers with big budgets.

Rightmove says these top end sales are contributing to the largest rise in asking prices they’ve seen at this time of the year since 2015.

We found this article about Why house prices have kept rising in Manchester and the rest of the country in the middle of a global pandemic on Manchester Evening News. Kindly click the link to read the full story.

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