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Low unemployment bolsters market

Sat 01 Oct 2022

Thinking Of Selling Your House? We Have Good News!

In one of our recent blogs, we discussed why you’re in a great position if you’re considering selling your house right now! One of the reasons is that the UK unemployment rate is lower than it has been for some time. Since then, unemployment has continued to decrease and we are now experiencing the lowest levels of unemployment since 1974! This is a great sign that we’re bouncing back from the pandemic as there are now fewer unemployed people than at the start of 2019!

In The Past, How Has Unemployment Affected The Housing Market?

A few years ago, Lloyds Bank set out to answer this very question by examining statistics from 2007 - 2017. During this time, areas that experienced the largest decline in unemployment saw house prices soar by an incredible £100,000! Whereas the 10 areas with the highest unemployment rate saw just 10% growth, whilst the national average was 25%.

If we look at the 20 areas with the greatest falls in unemployment over this period, they enjoyed growth of a huge 48%! If we delve further, we’ll see that the top 10 areas averaged a truly impressive 53% increase in just 10 years! London’s Waltham Forest is an astounding example - unemployment fell here and property growth reached 92%! This took homes worth £233,779 to a staggering £449,384!

Of course, many other factors impacted house prices at this time, however, Lloyds concluded that low unemployment was certainly a significant factor. Therefore, if you are considering selling your house, now is the time!

How Does This Impact Selling Your House In Warwickshire Today?

History and highly regarded research both show us that when unemployment falls, house prices rise. This makes the news of the lowest employment rates since 1974 something for those considering selling their house to celebrate!

Now, let’s take a closer look at the Warwickshire area specifically.

The latest available statistics show us that unemployment in Warwickshire is even lower than the already impressive national average! There is a 0.64% difference, which may not sound like much but in terms of unemployment, this is a notable gap.

So, if you are thinking of selling your house, now is the time to do it! 

What To Do If You Are Considering Selling Your House

If you think you’re ready to make a move, the first thing that you need to do is get in touch with us for your FREE property valuation, you can do so by either filling out this form or calling us on 01926 881 144. You will find out what your property is worth thanks to one of our no-obligation quotes. We advise you to take advantage of your enviable position as soon as possible!

If you would like to learn more about us, you can head over to our website or follow us on Facebook, Instagram, and LinkedIn. As a Warwickshire-based company who have been in business for 30 years, we believe that we are the right estate agents to sell your property!

""Hi Rachel, just wanted to say a very big thank you for all your time and valuable advice you have given us in this tricky situation, especially during these current challenging times. You most definitely have gone the extra mile and it is very much appreciated. Take care and thank you. Kindest Regards, Paj"
Paj

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