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Signs of an improving housing market in the North-East

Signs of an improving housing market in the North-East

–       Property selling 53 days faster than in January 2012
–       Asking prices have increased by 1.7% over the last six months 

The latest residential housing market data from Move with Us, the residential property experts, has shown a significant reduction in the average time it takes to sell a house in the North-East over the last six months.  At the beginning of June, a property in this region took an average of 153 days to sell, 53 days faster than at the beginning of the year*.

The average asking price for property in North-East towns and cities such as Durham, Newcastle and Sunderland, has also increased by £2,532 since January and now stands at £152,260.

Ben Greco, Director at Move with Us, said: “The second quarter of this year has been very positive for the North-East. We were expecting asking prices to experience downward pressure as the number of new listings increased in May, however, they remained steady. The amount sellers achieved for their property actually increased and the average number of days to sell improved, which are all indications of an improving market.”

*Figures are derived from The Move with Us residential market review, quarter two 2012 and is produced in conjunction with Home.co.uk. Information from more than 3,900 property sales completed by Move with Us together with data derived from around 720,000 property listings from Home.co.uk is analysed.

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For further information, please contact:
Sarah Evans Toyne/ Lianne Robinson/ Chiara Barreca, Four Broadgate: movewithus@broadgatemainland.com / Tel. 020 7726 6111

About Move with Us:

  • We are one of the UK’s leading residential property experts, providing a broad range of simple and effective services to help consumers buy, sell and value their homes. Our aim is to do property, properly.
  • We provide free, impartial advice and tools to home buyers and sellers in the UK through our website and consumer helpline.
  • Founded in 1997, we have become one of the largest estate agency networks, with more than 1,100 estate agents in the UK, ensuring that we have access to the best local knowledge.
  • We work with the best independent, accredited estate agents across the country, providing property instructions and a host of moving services to help provide our customers with a smooth and efficient move.
  • Based in Cambridgeshire, we have approximately 300 staff.
  • Our business growth has been recognised with a number of awards, including The Sunday Times Fast Track 100 award in 2005, 2006, The Sunday Times Profit Track 100 award in 2008 and 2009 and The Telegraph Fast Growth List, 2011.

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