Rightmove reports show that the average asking price is still £3,000 higher than a year ago with the North East performing best.

Tim Bannister, Rightmove's director of property science, says 'The beginning of the spring season sees stability and confidence continuing to return to the market as it recovers from the turbulence at the end of 2022 - The pace of the market reached an unsustainable level in the last two years and was on track to slow to a more normal level, though the speed of this slowdown to more normality was accelerated by the reaction to September's mini-Budget.”

Ready Let are pleased to hear that regionally the North East of England saw the biggest increase in prices, rising 2.5 month on month and they confident that the property market in the North East will remain buoyant due to the low and affordable house prices which have remained fairly priced over the last few years so it is unlikely to find itself in the same difficult position as other parts of Britain where their housing stock is significantly overpriced. It is also true that the type of properties that Ready let sell are mainly purchased by cash buyers who are unaffected by the increases in mortgage rates which have affected prices in other areas of the county.

Please contact us directly to find out more about our readylet, high yield investment property for sale in the North East. info@readylet.co.uk, 01483 663001

Source Article - https://www.thisismoney.co.uk/money/mortgageshome/article-11872189/Rightmove-Housing-market-shows-signs-recovery-prices-rise-3-averge