City Level House Price Growth
There are five cities where the current level of house price growth is below the rate of consumer price inflation, they are – Aberdeen, Cambridge, Oxford, London and Cardiff.
The St Neots market is certainly influenced by Cambridge to an extent and certainly more significantly the London market with many prospective buyers coming from this area.
If movers selling in London are having to adjust their prices, they will be more price sensitive when searching here and will be more inclined to view ‘realistically priced’ homes.
One could also argue that if prices in Cambridge are ‘cooling’ then buyers would be more attracted to look closer to the city they may work in rather than places like St Neots given the peak time commute can be rather frustrating.
This all points to local house prices needing to be ‘fair’ to attract a buyer in a reasonable amount of time, so make sure there is plenty of evidence to back up an asking price when choosing to sell your home. Of course we shall be more than happy to share with you our advice and experience. Mike Lorusso.
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