School’s back, the football season has started, nights draw in and the number of people looking to move home is beginning to increase again after the the summer holidays.

The latest Land Registry House Price Index shows the average house price in England and Wales now stands at £172,035, down from £172,069 in April which reflects pretty much what we are seeing across our network, increasing volume of sales and stability overall in the prices achieved.

The market locally has seen price increases at the lower end of the market, specifically in standard auction stock, and decreases in prices above £750,000 where there is still a surplus of property to buyers. From an average time to sell this has declined in the average family home and increased at the top end of the market.

Students are flooding back into the city which is tremendous for the lettings market with no reduction in numbers despite the increase in tuition fees.

Our commercial team are seeing an increase in enquiries and getting deals away in the small to medium sized market, landlords are being creative with deals to attract the right tenants but there are deals to be done.

We’re optimistic that the confidence will remain in the market and that prices will remain stable which will be supported by the proposed marginal raise in interest rates.

I hope you enjoy the rest of our Newsletter and if you have any comments to make, please do send us an email and we'll ensure we get back to you.

Rob Farnham Chief Executive, The Venmore Group