Halifax recorded their most significant monthly house price index in 15 months, up 2.7% to August, rubbishing a 0.5% prediction. Annually prices are up 9%, again outstripping expectations.
These figures are very encouraging but as they are national there are obviously regional variations.
As ever, property prices are affected by supply and demand. In the areas covered by Movingworks offices: Longton and surrounding villages, Penwortham , Leyland, Chorley, Tarleton and Burscough supply is definitely lower than demand. This has led to increased buyer activity with more interested parties per property than this time last year.
Recent sales across the offices have seen many properties achieving very close to asking prices with sales being achieved in days rather than weeks.
For many buyers stamp duty is lower than this time last year and mortgage rates are very competitive.
It is anticipated that it will be a busy Autumn in the property market in the South Ribble Chorley and West Lancashire boroughs.
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