The latest Rightmove House Price Index shows that the property market has settled into its typical summer pattern, with average asking prices falling by 1.0% in August. While that may sound concerning, it's largely the result of increased competition between sellers rather than a lack of buyers.
Across Telford, Ironbridge and Newport, we're continuing to see motivated buyers actively searching for the right home. With more properties available than we've seen for many years, buyers have greater choice, meaning they are taking a little longer to make decisions.
As our Sales Director, Hannah Brown, explains:
"The local market remains resilient and we're continuing to agree sales across the region every week. Buyers haven't disappeared – they're simply taking more time because they have more choice. Homes that are priced correctly and presented well are still attracting strong interest, while those that are overpriced are finding it much harder to compete."
There are positive signs too. The average two-year fixed mortgage rate has eased to 4.92%, helping to improve affordability for many buyers, while lenders remain keen to lend.
The key to a successful move in today's market is realistic pricing from day one. Homes that are priced competitively and presented well continue to attract strong interest, while overpriced properties often take longer to sell.
Payment
