The Wembley Property Market Update for February 2022.
Looking back at the highs and lows of the property market in Wembley; HA0 HA9 postcodes in February.
The daffodils are rising and the earth seems to be waking up from its winter hibernation, we often think that March means the same for the housing market. However, for the last 12 months this has not been the case, the market doesn’t seem to sleep!
Rightmove House Price Index has seen the largest annual jump since September 2014 with the current HPI standing at 9.5% (this means the price of properties are are 9.5% higher than this time last year). The monthly house price index has risen by 2.3% this month, meaning that properties coming to market are 2.3% higher than last month and this is the largest monthly rise in twenty years!
There is more good news for buyers and sellers in the market place – buyer registrations are up 16% and valuation enquiries are up 11% on last year. Some more good new for London property owners is that London recorded the highest monthly house price growth of its region since 2016 and buyer registrations of any region. It seems that the lifting of the last of the covid restrictions and a return to the office, even if only a few days a week, has fuelled demand in the city.
We can see that demand is still being fuelled by pandemic motivators of more space in and outside the home and cannot see this easing up anytime in the next few months. We can see that more people are thinking about making that move as valuations have increased and the number of available stock has increased slightly on last month.
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