Why Choosing the Right Estate Agent Makes All the Difference?

House Prices Are Rising, But Slowly

House prices have been inching up over the past year. According to the Land Registry, the average UK house price was £290,000 in July 2024, up 2.2% compared to last year. Although prices are rising, high mortgage rates are slightly slowing things down. Buyers and sellers are being cautious, and getting the right price is more important than ever.

Regional House Price Trends Across the UK

House prices vary quite a bit depending on where you are in the UK. Here's a quick look at how different regions are performing:

• North West: Average prices are steady at £220,000, with a 2.8% increase over the past year. This steady growth makes it an attractive area for buyers and sellers, but knowing how to approach the market here can make a big difference. Local knowledge is key, which is where estate agents like Farrell Heyworth come in.
• London: Prices are actually down slightly, with an average of £521,000 – a 0.4% decrease. London's high prices continue to make it a challenging market, with affordability being a big factor for buyers.
• Scotland: Scotland has seen strong growth, with prices rising 6% to £199,000. This shows the demand and growth potential in the area.
• Northern Ireland: Leading the pack with a 6.4% increase, bringing the average price to £185,000. This is one of the fastest-growing regions.
• Wales: Wales has also seen some growth, with a 2% increase and an average price of £218,000.

Each region has its trends, so having a local estate agent who knows the area is valuable. In the North West, for example, working with an agent who understands the market can help you price and sell your home quickly or find a property that's right for you.

Why Choose a Local Estate Agent Like Farrell Heyworth?

The current housing market can be tricky, but choosing the right estate agent, especially a reputable local one, can make a huge difference. Here's why Farrell Heyworth, with offices throughout the North West, can help you get the most out of the market:

We Know the Local Market Inside Out

Farrell Heyworth operates across the North West and has in-depth knowledge of local demand, pricing trends, and buyer preferences. In a steady market like the North West, understanding what drives demand is essential to setting the right price and attracting serious buyers quickly.

We Use a Tailored Marketing Approach

These days, you need more than just an online listing to sell a home. Farrell Heyworth creates a custom approach to market each property, from professional listings to staging advice. They know what local buyers want and how to make your property stand out.

We Set Realistic, Strategic Prices

In a cautious market, pricing is everything. Farrell Heyworth's local knowledge allows them to set prices that get attention without overpricing, which helps avoid price cuts and keeps your property attractive to buyers. A properly priced home is key to selling within a reasonable timeframe.

We're Trusted Advisors

In a shifting market, having a trusted advisor can be invaluable. Farrell Heyworth's team can guide you based on what's happening locally and help you make informed buying or selling decisions.

Challenges and Opportunities in the Market

Despite high mortgage rates, there are still opportunities to make good moves in the housing market:

High Mortgage Rates Mean Buyers Are Cautious

With high mortgage rates, buyers are taking their time. This means homes stay on the market longer, and sellers must be smart about pricing and presenting their properties. A good estate agent can help you get through these challenges.

The North West's Potential

The North West presents opportunities with its steady prices and gradual growth. A knowledgeable estate agent can help you make the most of the region's unique market conditions.

What's Next for House Prices in 2024?

Experts are cautiously optimistic about the rest of 2024. Forecasts now expect slight price increases as mortgage rates start to stabilise. In the North West, moderate gains are likely, meaning buyers and sellers have opportunities if they work with an agent who understands the local market.

Working With a Local Expert Can Help You Make the Most of This Market

In this market, choosing the right estate agent is crucial. For those in the North West, Farrell Heyworth brings the expertise, local insights, and strategies needed to help you succeed. Whether buying or selling, working with a reputable agent gives you an advantage in today's market.

Local Expertise Matters Now More Than Ever

In today's housing market, having a skilled estate agent by your side can make a huge difference. Whether you're looking to buy or sell in the North West or elsewhere in the UK, choosing a trusted, experienced estate agent like Farrell Heyworth is critical. With a strong presence in the North West, Farrell Heyworth understands the local market and can guide you through every step of the process.

Contact your local expert if you're ready to move into the property market throughout the North West. It might just be the smartest decision you make this year.