At Thomas Morris, we stay in touch with the local housing market in Ramsey, as well as the national market.
It is fair to say both the national and local markets have started 2022 strongly, and if you are looking for guidance regarding a move, we are here to assist you as best we can.
What do the market specialists say?
Rightmove’s first housing market report of 2022 pinpointed the following matters:
The average price of property coming on to the market increased by 0.3%
The average price of property coming on to the market stood at £341,019
The average price of property coming on to the market was 7.6% higher than the equivalent price a year ago
The average price of property coming on to the market was the highest annual rate of price growth, seen by Rightmove, since 2016
Rightmove also stated:
The number of prospective buyers asking about property is 15% higher than it was this time in 2021
The number of available homes per estate agency branch has reached a new low, standing at 12
Rightmove state the number of property valuation requests is 44% higher than the 2021 equivalent
What are Rightmove saying about the strong start to 2022?
Tim Bannister, Rightmove’s director of property data, comments: “New Year sellers and buyers have been quick off the mark this year, with Rightmove recording the highest ever number of Boxing Day sellers coming to market. These early-bird sellers who got themselves ready to come to market are now benefitting from the busiest start to the year that we’ve ever recorded, with the number of prospective buyers enquiring about homes up 15% on this time last year.”
Tim Bannister continued by saying; “All of the signs suggest that prices are likely to continue to rise until more choice is available. Three regions are in most urgent need of new supply, the East Midlands, South West and South East of England, as they are now at unsustainable rates of annual price growth above 10 per cent.”
Tim Bannister concluded by saying; “Almost 40 per cent of people enquiring about a home who have a property to sell say that they are yet to put it on the market. In the current market, where they are competing against others who are able to move more quickly, this is likely to mean they’ll miss out on the home they want. To put yourself in the best possible position to proceed, you should become a ‘power buyer’, by making sure your current home is on the market or preferably sold subject to contract first, before starting the search for your new home.”
How are house prices in Ramsey?
As you will see from the figures provided by Rightmove, the 2022 market has also started strongly in Ramsey.
“Properties in Ramsey had an overall average price of £275,610 over the last year.
The majority of sales in Ramsey during the last year were detached properties, selling for an average price of £353,349. Semi-detached properties sold for an average of £219,400, with terraced properties fetching £181,308.
Overall, sold prices in Ramsey over the last year were 11% up on the previous year and 19% up on the 2018 peak of £230,975.”
The 11% increase in property prices from this time last year is a significant jump, as is the 19% rise on the 2018 figures.
Contact Thomas Morris for any Ramsey housing market move you would like to make
If you are looking for help with any matter of the housing market, it is best to speak to property professionals. You can book a sales or rental valuation appointment directly on line at a time and date of your choice by clicking here or alternatively or you can phone our Ramsey branch on 01487 814666.