September's House Price Index: now is a pivotal time for both buyers and sellers

Rightmove’s House Price Index shows that it’s now more crucial than ever to use a reputable agent that understands the current market and knows how to correctly position your property, as the housing sector still has strong demand, if priced accurately.

There is positive news for those looking to sell in the first-time buyer sector. Buyer interest in homes typically featuring two bedrooms or fewer is shining bright, with interest in these properties up by 1%, signalling a sustained enthusiasm for getting on the property ladder and owning a home.

Buyers can take heart in the continued drop in mortgage rates. The average five-year fixed mortgage rate now stands at 5.67%, down from its peak of 6.11% in July. This, coupled with a slight drop off in house prices and improving average earnings, is gradually making homeownership more affordable.

As summer holidays wind down and children head back to school, the housing market is springing back to life. During the first week of September, new property listings shot up by 12% compared to the average weekly numbers in August. More people are taking action and considering their housing needs for the future.

The next few weeks will set the tone for the rest of the year, and while market conditions differ across locations, our experts are well-equipped to guide sellers in Sheffield and Chesterfield on pricing strategies to boost their chances of finding a buyer.

For buyers, the market is gaining momentum again after the summer, meaning there's a window of opportunity to find that perfect property. However, it's essential to exercise caution as annual price changes suggest ongoing adjustments. Rest assured, with our guidance, we can help you discover your dream property.

If you're a seller, remember that accurate pricing right from the start is your secret weapon. Buyer demand is still there, and well-priced properties that are marketed effectively attract buyers faster. 

If you have struggled to sell with your current agent, it might be time to get in contact with your local Redbrik office, as 34% of sellers who switch agents are more likely to sell than those who reduce their price. Our team is here to assist you in crafting a selling strategy tailored specifically to your market, helping you navigate changing conditions with ease. With Redbrik SecureMove™, we can still get you moved before Christmas.

The steady reduction in mortgage rates offers hope for all types of buyers, especially first-timers. With a livelier market on the horizon, it's high time to reach out to your local Redbrik office to learn how we can support you in this exciting journey.