At Austin Property Services, we want to ensure you make informed decisions regarding the housing market. Whether you are looking to buy or sell, property prices and asking prices impact what you are likely to do next.
According to Rightmove, as of the end of May 2021, house prices in Weymouth are as follows:
“Properties in Weymouth had an overall average price of £272,840 over the last year.
The majority of sales in Weymouth during the last year were detached properties, selling for an average price of £387,436. Terraced properties sold for an average of £226,065, with semi-detached properties fetching £276,684.
Overall, sold prices in Weymouth over the last year were 8% up on the previous year and 7% up on the 2018 peak of £254,583.”
Are you looking to make a move?
As you can see, according to their figures, sales prices have risen strongly over the past year. There is also evidence which suggests asking prices have risen sharply of late.
In the latest research published by Rightmove, asking prices have risen by close to £6,000 a month (on average) in the space of a month.
Some of the key headlines from the data include:
There has been an increase of £5,767 in the average seller asking price
This represents a month-on-month increase of 1.8%
The May 2021 average asking price was £333,365, which is a new record
The April 2021 average asking price was £327,797
There is a growing supply-demand imbalance across the country, and in some areas, this has led to a double-digit price increase
Some of the areas with a double-digit increase include Wales with a 13% rise, the North West, with an increase of 11.1% and Yorkshire and the Humber, which rose by 10.5%
We are here to help you make a move
Tim Bannister, Rightmove’s director of property data, commented: “Last year’s unexpected mini-boom is rolling on into 2021, with new price and market activity records again defying many predictions. Buyer affordability is increasingly stretched, but there’s obviously some elasticity left to stretch a bit more as many buyers are squeezing their way into higher price bands. This high demand, with both willingness and ability to pay more, has pushed the average price of property coming to market to a new all-time high of a third of a million pounds. In another twist, it is the regions of Britain further north that are leading the way, with some degree of catching up between average prices in London and the north.”
Tim Bannister continued by saying; “While the gap remains very large, with average prices in London still 2.9 times higher than those in the north, this ratio is now at its smallest since 2013. The pandemic has given a greater focus on the home, and in 2020 we saw a surge in southern coastal and rural areas. So far 2021 is proving to be the year of the northern mover, not only satisfying their pent-up housing needs, but in doing so also narrowing some of the huge price gap with London.”
Tim Bannister also said; “Family homes with three bedrooms or more are like gold dust in many areas of the country, especially in parts of the north. For example, compared to the same period in 2019 agents in the North East have 59% less available stock for sale in the ‘second-stepper’ sector made up predominantly of three-bedroom homes, while Scotland is 65% down in the “top of the ladder” four bedroom or more sector. In contrast, London’s available stock is down 20% and 24% respectively in these sectors, so while supply is still limited it is more closely matched to demand.”