Strong start to the year for Rugby property market

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The latest market figures from Rightmove reveal what the firm describes as the strongest ever start to a new year for national average asking prices.

And Rugby estate agent Cadman Homes agrees that the year has got off to a flying start.

“Rightmove said that this was an indicator that seller and estate agent optimism was rising, along with the number of properties coming to market and activity across Rightmove’s sites,” said Adam McHenry, one of the directors of Cadman Homes, a family firm based on Castle Street.

He added: “While January’s rise is limited to one per cent, it is a record for this time of year, and we are seeing this in Rugby too, with a shortage of new properties coming to market which is giving available stock more attention and commanding higher offers” .

Rightmove also said that this meant average asking prices were 6.3 per cent higher than a year ago. It also marks the highest annual rate of increase since November 2007.

Cadman founder Valerie Cadman-Jones said:

“Help-to-buy schemes, improved lending and very high numbers of applicants looking to buy is causing massive demand, but we are short of supply, as the traditional view is to wait until spring comes before marketing their home. That means that every house that is selling is attracting 2.5 offers, or, to put it another way, on average there are 250 per cent more buyers than sellers and this means that we are bringing back our one per cent +VAT sales offer for February and March.”

For more information, call (01788) 560 905, or call into 1 Castle Street,off Albert Street.