As we move into autumn, Shropshire’s property market is expected to slow down, in line with typical seasonal trends. Despite recent optimism in the industry, we should manage seller expectations carefully. The talk of a quick market recovery is widespread, but the reality is more complex, especially as we transition from the peak summer months.
Our analysis of housing market data over the past decade reveals a consistent pattern: house prices across Britain tend to rise during the summer, with an average increase of 1.5% from June to August. However, this growth slows significantly in autumn, with the average rate dropping to -0.1% between September and November. The same trend continues into winter, indicating that price peaks usually occur before the cooler months set in.
While mortgage approvals are up and buyer interest remains strong, the improvement in house prices may have already reached its high point for the year. Sellers in Shropshire should be cautious not to overprice their homes in this changing market. Setting a realistic asking price is crucial, especially if a quick sale is the goal.
Data regarding price repositions (Rightmove)
Understanding these seasonal trends can empower homeowners to make informed decisions. With the autumn and winter months typically seeing lower transaction levels and softer price growth, it’s important to stay grounded amidst the recent wave of property market positivity. Knowing when to sell and at what price can make all the difference in securing the best outcome.
For those looking to sell this autumn in Shropshire, preparation and a well-considered pricing strategy will be key to success.
Thank you for reading.
Daniel James Residential LTD – Oswestry
T: 01691 67494 E: Oswestry@danieljamesresidential.com
Our latest housing stock https://www.danieljamesresidential.com/properties/
