Well, September seems to have flown by in a blink! With Halloween, Autumn weather and – dare we say it- Christmas (😮) on the horizon, we are here with a roundup of the property news, market insights and property forecasts from Derby and across the nation.
First up, and rightly so, is the news from Rightmove that September saw the hottest ever competition from buyers to secure a purchase and, unsurprisingly, the highest prices on record with prices up by 0.3% (£1,091) to a new record of £338,462. Their September house price index provides great insights into where the market is heading, with new listings up by 14% month on month, suggesting the Autumn market may be starting to balance out. Take a look at the full report here: https://www.rightmove.co.uk/news/house-price-index/
Staying on the national news and the BBC have chipped in with an interesting look at where in the country has seen the biggest price rises, coming to the conclusion that the epicentre of the price boom is the beautiful Yorkshire Dales, with the area of Richmondshire seeing a price increase of 29% over the last year. Take a look at the report here: https://www.bbc.co.uk/news/business-58502618
Sticking with the BBC, they go on to report that although prices have hit a new high, there are signs that the pace of house price growth is starting to slow, again echoing Rightmove’s assertion that the number of properties coming to market could be on the increase, balancing out demand for the coming months, take a look here: https://www.bbc.co.uk/news/business-58472739
In local news, most of the reports this month focus of the ever-increasing level of new developments springing up across the county. Derbyshire live bring news of 1000 new homes set to be built on the former power station site at Drakelow – https://www.derbytelegraph.co.uk/news/derby-news/more-1000-homes-built-former-5992193 and planning submissions for around 300 new homes at a site in Church Greasley – https://www.derbytelegraph.co.uk/news/local-news/plans-submitted-more-300-homes-5916876.
They have also looked in to the approaching redevelopment of the locally famous La Gondala restaurant. The new owners are still planning to build a number of flats on the now disused site, take a look at how the plans are progressing here – https://www.derbytelegraph.co.uk/news/derby-news/plans-la-gondola-hotel-demolition-5897853
Sticking with the house price rises theme, our friends over at the online industry magazine Estate Agent Today take a look at how much house prices have risen everyday since Covid began – it’s certainly an interesting insight into how the pandemic has affected the property market, take a look here – https://www.estateagenttoday.co.uk/breaking-news/2021/9/revealed-how-much-house-prices-have-risen-every-day-since-covid-began
And last but not least, the rental market comes in to focus with a look at potential rental trends for 2022. Landlords and tenants alike have had a rough ride over the last 24 months and where the pandemic could be seen to have fueled the exceptional growth in the residential sales sector, lettings and rental have seemingly taken a back seat. You can read the full article here – https://www.lettingagenttoday.co.uk/breaking-news/2021/9/insight–what-will-the-main-rental-trends-be-in-2022
So, that about wraps things up for September, the nights are drawing in, the leaves are turning, and the mornings are getting just a little chilly. What will October bring us?
Keep following your leading local agent to find out!