call-to-action call-to-action-mobile

What's Happening with the market in August

Fri 12 Aug 2022

What’s Happening With House Prices This August?

As well as fluctuations over the years, house prices also go up and down from month to month. August is known as a time to expect a bit of a drop, but has the post-covid landscape, combined with being in the midst of a cost of living crisis and rising interest rates, had more of an effect on this in 2022? Let’s have a look into it…

August 2022 House Prices

What are the numbers saying?

Recently, interest rates have risen by 0.5%, which puts pressure on buyer affordability and has led to monthly mortgages, even with a 10% deposit, exceeding £1000 (on average) for the first time. Despite this, buyer demand is 19% higher and new listings are 6% lower than in 2019!

House prices have fallen this August, as we would have expected - this is the first time that house prices have dropped in 2022. Current statistics show that they are down by 1.3% but when we look at data from the past 10 years, this is a very typical drop.  

So, it’s time for the big question… 

Is It A Good Time To Put My House On The Market?

It certainly is! Let’s have a look at why…

Low Unemployment

Whilst the latest statistics show that the employment rate in the UK is still very slightly lower than pre-pandemic levels, they also tell us that unemployment has decreased by 0.2 per cent. This bounce back from the pandemic low means more people are eligible to become homeowners or upgrade their current homes!

Shortage Of Properties On The Market

The shortage of properties on the market helps to keep house prices firm as buyers are motivated and have less choice. Those looking to move have a pool to choose from instead of an ocean, so houses get snapped up quickly!

The ‘Race For Space’

The pandemic made a lot of people realise that they just didn’t have enough space to be comfortable in their city homes. That has left those who own property in towns, like Leamington Spa, in an enviable position. With better prices, more room and great transport links, buyers are ready to jump at the opportunity to own in this area! 

That’s before we even factor in babies born during the pandemic whose parents haven’t had the opportunity to find a bigger home yet. Leamington Spa is hugely appealing to them, with its fantastic parks, facilities and schools.

Back To School

Speaking of kids, the summer holidays are drawing to a close, giving parents the time to look at potential new homes! Our fantastic marketing will have your property at the forefront of their minds! 

In For Christmas

Many individuals and families prioritise being in their new home in time for Christmas and as it takes an average of 3-6 months to purchase a property, time is running out! Combine this with fewer properties on the market and you can see why now is a good time to list your home!

What’s The First Step?

The first step is an easy one, get in touch! Simply give us a call on 01926 881 144 or visit our website and we can get the ball rolling as soon as you are ready to go. 

Our valuations are completely free and carried out by our expert team, several of whom have 15-30 years in the business. They will conduct a thorough valuation and take into account the size of your property, factor in any noteworthy features and consider other house prices in the area. We can also organise professional photographers and videographers to truly showcase your property in the best possible light!

If you would like to learn more about us, visit our website to find out why you should choose ehB.

"'My wife and I recently had the pleasure of working with Rachel to secure an apartment rental through EHB Residential. Not only was the apartment immaculate upon our arrival - with every small detail taken care of, Rachel worked hard to make the whole rental process as smooth as possible. p. Rachel shows a genuine interest in the needs of both the tenant and landlord. For us, this created a 'win win' situation where we were able to move into our dream apartment with minimum fuss while the owners of the property can rest assured that their investment is safe under Rachel's diligent management. p. I would highly recommend the services of Rachel and EHB residential.5* experience ' "
Paul Marshall

News Archive

March 2024

Selling And Buying A House With ehB - A 2024 Market Update

February 2024

Making Your Move - Why Some People Choose To Move House

January 2024

Moving House in 2024 - Your Next Chapter with ehB

December 2023

Navigating The Current Housing Market

November 2023

Thinking of Selling in 2024

October 2023

Thinking Of Moving To One Of The Best Places To Live In The Midlands?

September 2023

Why ehB Should Be Your Top Choice For A Leamington Estate Agent

August 2023

Now Is The Time To List Property!

July 2023

Hoping To Be Moving House Before Christmas?

June 2023

Town Centre Living Is Back!

May 2023

Is It A Good Time To Sell A House?

April 2023

When Is The Best Time To Sell A House?

March 2023

Why Is Demand For Property So High In Leamington Spa?

February 2023

The Property Market Is Stabilising

November 2022

Two long-established names in Warwick estate agency join forces as ehB buys Donald Carter

October 2022

What’s Going On With The Housing Market?

Low unemployment bolsters market

August 2022

What's Happening with the market in August

June 2022

Houses for sale in Leamington are being snapped up.

April 2022

How to Get the Very Best Price for Your Property

March 2022

Spring housing market shows no sign of cooling, as ehB Residential reports continuing buyer demand

January 2022

Homebuyers likely to ‘go for it’ in the New Year, says ehB Residential

December 2021

ehB Residential calls on sellers to capitalise on Boxing Day Rightmove boom

November 2021

Hesitant home sellers urged to take advantage of less competition as Christmas distracts fellow vendors

October 2021

‘October is the new September’ in home buying world