There’s a fresh breeze blowing through the housing market as house prices spring forward annually for the first time in over a year. The recent reports from Nation Wide show encouraging news for both buyers and sellers.
According to the latest data, average new seller asking prices have seen a notable rise of 0.9% this month. This marks a significant turnaround, as it’s the first time in the past six months that annual price changes have moved back into positive territory, up by 0.1% compared to last year.
Buyers are taking advantage of this with a remarkable 16% increase in agreed sales compared to the same period last year. This surge in activity indicates growing confidence among buyers, signalling that 2024 presents favourable conditions for those considering investing in annexes or expanding their property options.
A Sign of Spring Awakening
Market activity is flourishing, with a 7% increase in new listings and buyer enquiries on platforms like Rightmove. This surge in activity means there are more choices available for buyers, making it easier to find their perfect home.
While overpriced properties may face challenges in attracting buyers, there’s a bright side: accurately priced homes are being swiftly snapped up by savvy buyers who are mindful of their budgets.
The Rise of Annexes: Seizing the Opportunity
Needing to buy a new property or trying to sell a current one to build an annexe is a common hurdle our customers are facing every week. Whether it’s for accommodating elderly parents or providing a space for adult children, annexes have become a popular choice for homeowners looking to enhance their living arrangements.
With the current market conditions showing signs of improvement, now could be the perfect time to make that move and make your annexe dreams a reality. Whether you’re considering selling your current property to build a new one with an annexe or purchasing a home with annexe potential, the current market offers a positive opportunity to explore.
Your Annexe Journey Begins Here
At iHus, we specialise in the design and build of bespoke luxury annexes. Our team is dedicated to guiding you through every step of the process, from finding the perfect property to designing and constructing your dream annexe.
Whether you’re ready to sell, buy, or embark on your annexe construction project, our expert team is here to support you every step of the way.
Contact us today to talk about building an annexe or finding the right property to accommodate one.
