With spring 2022 well and truly here, the usual upswing in the market in Richmond and London is underway. Demand continues to be high in this local area and with several buyers chasing every available property, it really is the right time to make that move.
In January we reported on a very busy last half of 2021, with pent up demand following the lockdowns and issues created by the pandemic coming to a head, especially in London and the south.
Here is our spring property market update (April 2022) with an outline of the local and national market trends.
Richmond property prices are on the rise again
In January we reported that during the last twelve months the average price of a home sold in Richmond-upon-Thames had risen by 3.4% according to the latest data from Zoopla for January 2022. The latest property price update from Rightmove for April 2022 reports a healthy rise for Richmond property to an average of £922,614 and a monthly increase of 1.9% which is 5.5% for the year so far.
Rightmove’s report also states that properties are selling faster than ever, twice as quickly as in the more normal market of 2019. The price jump during the last three months of over £19,000 is the largest seen in any three-month period since records began.
Interestingly, Rightmove also state that 53% of properties are selling at or over the full asking price, again the highest level ever seen.
The high buyer demand for limited available stock for sale suggests sustained price falls are unlikely in the foreseeable future. Rightmove also report that the number of transactions nationally remains steady, with sales agreed 21% higher than the more normal 2019 market.
With this early Rightmove spring 2022 report showing continuing positive property price growth, now is a good time to talk to us about selling your home.
What makes Richmond so special?
Richmond has many draws. For a start it’s a picturesque riverside town located in south-west London with amazing transport links and is a firm favourite among commuters thanks to its many and varied selection of independent shops, cafés, and restaurants. Living here, you get a real sense of the tranquillity Richmond has despite being a short distance from the centre of London.
This sense of calm is created by Richmond’s proximity to the river, the abundance of gorgeous walks and the expanse of Richmond Park, the largest of the royal parks and famous for its red deer and reputation as a place of national and international importance for wildlife conservation.
Get on the market with Parkgate
For more information about SELLING or LETTING your property in Richmond, Twickenham, Sheen, Mortlake, and Putney, please get in touch with our multi award-winning sales and lettings team on 0208 940 2991.
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Moving to Richmond?
The Parkgate team can help you find the ideal property to buy or let. We all know Richmond and the surrounding areas really well and can speak from experience and provide a comprehensive overview of the benefits of living in this beautiful location.
Talk to a member of the team today and register with us: 020 8940 2991.