U.K. New Listing Prices Hit Record High In February
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U.K. New Listing Prices Hit Record High In February

Properties coming onto the market had an average price of $660,104, Rightmove finds

By Fang Block
Tue, Feb 22, 2022 10:51amGrey Clock 1 min

The U.K. property market is continuing to see robust activity and price growth this month, as both sellers and buyers fear they’re missing out in the competitive market.

Across the country, new listing prices rose 2.3% month over month in February to a record average of £348,804 ($660,104). The monthly gain, which equated to an increase of £7,785, was the biggest in more than 20 years, according to Rightmove, the U.K.’s largest online real estate portal and property website.

Compared to the same period last year, asking prices jumped 9.5%, the highest annual rate of growth since September 2014, according to Rightmove’s data released Monday.

“High demand and a shortage of available stock are supporting a rise in prices and a new record average asking price this month,” Tim Bannister, Rightmove’s director of property data, said in the report. “However, despite rising costs and rising interest rates, the data right now shows demand rising across the whole of Great Britain, with many people determined to move as we head into the spring home-moving season.”

The number of potential buyers who sent inquiries to agents increased 16% in February from a year ago, with London recording the biggest jump—at 24%—across any region, Rightmove data showed.

The number of new sellers listing their homes for sale was up by 11% year over year, suggesting more sellers are taking advantage of the competitive market, the report said.

“A fear of missing out on one’s dream home is really driving market behavior at the moment, as movers look to do all that they can to avoid the disappointment of being too slow to secure their ideal property,” Mr. Bannister said.

Reprinted by permission of Mansion Global. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication:  February 20, 2022



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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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It’s a slam dunk as a covetable $2m KDR site complete with basketball court hits the market in the Hills District

The ball is in the buyer’s court with this knockdown/rebuild opportunity

By KANEBRIDGE NEWS
Tue, Apr 18, 2023 2 min

Glenhaven in Sydney’s Hills District is one of those areas that locals tend to keep to themselves. Leafy with large blocks on offer, the suburb takes its name from its valley location, with the northern end originally known as the Glen and the southern end called the Haven. 

En route from Parramatta to the Hunter, Glenhaven has become an ideal place for growing families in search of a little more space, or even room to house several generations under one roof.

The challenge is finding properties that tick all the right boxes.

As demand for trades and supply chain issues continue to ease, now could be the right time for a knockdown/rebuild project for would-be buyers looking to create their dream home.

Fairmont Homes specialises in knockdown/rebuild projects in Sydney. General manager at Fairmont Homes, Daniel Logue, said there are key features to look for when choosing a knockdown/rebuild site.

“The key items we look for are the site falling to the street, not to the rear, to help with stormwater drainage as well as access to the site,” he said. “Neighbouring property front setbacks are also important. In some older areas, the older houses are set closer to the street, meaning your new home will have to be set to suit.

“Value for money and the return on the end sale price of the home is another issue.”

If possible, he said designing a home that meets the criteria of the Complying Development legislation will speed up approvals considerably.

While suitable knockdown/rebuild sites can be hard to find in Glenhaven, there are still hidden opportunities if you know where to look.

One block at 158 Gilbert Road, Glenhaven is ideally suited for rejuvenation. With almost 850sqm to play with, it slopes down to the street and sits between neighbouring properties that have already been stylishly updated.

 

 

An existing basketball court at the rear could provide the perfect teen backdrop to a family home, or it could make way for a larger house with landscaped gardens and pool. Alternatively, it could be the perfect position for a cabana or granny flat to serve as in-law accommodation or a source of secondary income.

With recent sales of completed homes in nearby streets reaching well above $5 million, it’s a great opportunity to make a slam dunk of a buy into one of Sydney’s best kept secrets.

Address: 158 Gilbert Road, Glenhaven
Price guide: $1.8 million
Inspection: By appointment only
Contact: William Brush, LJ Hooker Dural 9651 1566 

 

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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