Market Update – May 2022

Now at the peak of the spring market, prices and activity in the South East continue to break records. Despite rises in the cost of living, the race for space remains strong:

  • 52% of properties are selling at or above asking price*
  • Year on year prices have risen 10.6%*

Indeed, 75% of properties under offer with Kai Carter Estates so far in 2022 received multiple bids with a sale agreed in excess of the asking price.

With summer approaching, the market shows no signs of slowing. We’re once again seeing city dwellers look to the country for a primary or secondary home to accommodate a home office and more space for family life and social gatherings. In our region, home movers are able to find a country idyll within commuting distance of London, achieving a balance between their need for more space within easy reach of the office.

This year has seen an unexpected rise in the cost of living which could give potential buyers pause for thought. However, while mortgage rates have risen, they still remain comparatively low and owning is still cheaper than renting in many cases for first time buyers – the root of the market – with the added benefit of capital gain.

Overall, there are still a significant number of people who want to move home with demand still outstripping supply, so volume of sales and prices remain strong.

With Easter past us, enquiries are flooding back in with plenty of viewings in the calendar. It remains the case that those thinking of selling are advised to do so without delay. Likewise, buyers should act quickly to secure the right property when they see it.

For further advice, feel free to call us anytime.

* April House Price Index

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