News & Legislation December 22, 2022
     

Regional Property Market Update Summer 2021: East Midlands

2021 is set to be one of the busiest sales years in over a decade

Agents report the sales to stock ratio across the East Midlands is at a record high (RICS). At 3.7%, the annual rate of housing stock turnover in the East Midlands is above the UK average. Levels currently exceed 4% in the most active markets.

 

East Midlands annual rate of price change regional property market report map

 

Price growth strengthens

Although new instructions to the market have improved slightly in recent weeks, demand continues to outpace supply, placing sustained pressure on prices. Month-on-month average property prices are rising in all regions of the UK.

Year-on-year price growth across the East Midlands is substantially stronger than the 2.7% recorded this time a year ago (UKHPI). Double-digit annual price growth is evident in over half the local areas in the East Midlands. 

 

East Midlands annual rate of price change regional property market report statistics

 

A seller’s market

Market activity is fast-paced. According to Rightmove, the average time taken to sell a property in the East Midlands is 44 days. The proportion of properties selling within their first week of listing is at a record high (Zoopla) and the average time taken to sell a property in the UK is nearly three weeks quicker than in April 2019 (Rightmove). Lifestyle change continues to drive demand, buyers also aided by the extension of elements of tax relief and the new 95% government-backed mortgage guarantee scheme, available on either new or resale properties.

 

VIEW THE FULL EAST MIDLANDS REGIONAL PROPERTY MARKET REPORT

 

Contact us

Take advantage of the seller's market this summer with the best agent in your area. Contact your local Guild Member today.

 

 

Sharing Success: The Guild Conference and Awards celebrate Member achievements

Spring 2024 UK Property Market Report: Green shoots

Regional Property Market Update Spring 2024: Scotland

Regional Property Market Update Spring 2024: Wales

Contact Us

Sally Botham Estates
27 Bank Road
Matlock
DE4 3NF

01629 760899
enquiries@sallybotham.co.uk

121 Park Lane
London

Tel: 020 7318 7087

Follow Us

About Us

As market leaders for over 22 years, we are proud to be one of Derbyshire's most trusted estate agents. With our expert advice, honest and ethical communication, and a professional yet personal service, we are ready and excited to help you with all your property needs.


2020 © Sally Botham Estates. All rights reserved. Terms and Conditions | Privacy Policy | Cookie Policy | Complaints Procedure
SALLY BOTHAM ESTATES LIMITED. Registered in England. Company No: 04884262. Registered Office Address: St Helen's House, King Street, Derby, DE1 3EE.