Average House Prices in Huntingdon 2022

A housing market overview and Huntingdon property market update. Here are the details we have gathered so that you know the average house prices in Huntingdon. This will help if you’re considering moving to Huntingdon.

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Huntingdon Property Market Update

  • Over the last 12 full months there have been 1,691 sales in Huntingdonshire. This is a –6% change on the previous 12 month period. The average house sales price was £294,143.
  • 7% of sales in the past 12 months were flats, achieving an average sales price of £147,156 . Houses achieved an average price of £309,599. The total value of sales was £507,699,447.
  • The highest value recorded by the Land Registry over the past 12 months was £365,000 for a flat and £2,050,000 for a house.
  • Over the last 3 months the total accumulated value of property sold comes to £41,300,000.

UK House Price Growth

0 %
Year to July 2021

Source: ONS

Transactions in August

0
21% increase year-on-year

Source: HMRC

Mortgage Approvals in August 2021

0
10.5% increase on five year August average

Source: Bank of England

Transactions Year to Date

0
Up 39% on 2019

Source: HMRC

Economy

  • The UK economy grew by 0.1% in July, its sixth consecutive month of growth. Although growth slowed from the 1% recorded in June. Output in the service sector remained unchanged, the construction sector contracting by 1.6%.
  • The number of job vacancies in the UK has risen above 1 million for the first time since records began in 2001.. There were 1.03 million vacancies recorded in the three months to August. The ONS also reports employee numbers are now back to pre-COVID levels.
  • The ONS report inflation rose to 3.2% in August, price rises recording a record jump. It's expected that the rise will be temporary and is partly the result of food costs soaring. Especially compared to a year ago when the Eat Out to Help Out Scheme was in place and many diners received a 50% discount on meals out.

House Prices

  • The rate of annual price growth across the UK slowed in July in all regions except Scotland. Month-on month across the UK the average price of a property fell by 3.7%. At £255,535 the average price of a property is 8% higher than a year ago (UKHPI).
  • Asking prices have fallen by -0.3% this month, this is the first price drop recorded in 2021. The upper end of the market saw the decline in asking prices. First-time buyers and second steppers increased (Rightmove).
  • A net balance of agents (+66) sense prices will rise over the next 12 months. This is according to the August sentiment survey released by the Royal Institute of Chartered Surveyors. Measures tracking new instructions have fallen for the fifth consecutive month.

Property Transactions

  • Over 1 million property transactions have taken place across the UK in the first eight months of 2021. That's higher than the number of sales during the entire year last year. The HMRC estimate 98,300 sales took place in August as the final SDLT reduction draws to an end.
  • According to Rightmove this was the busiest first half of a year ever. There were 140,000 more sales agreed in the first half of the year. There were also 85,000 fewer new listings than the long-term average. This imbalance created a 250,000 shortfall of homes for sale.
  • At 36 days, the time taken to sell a property (from marketing to SSTC) is 29 days shorter than at the start of 2021 (Rightmove). Properties are currently selling the quickest across the South West (32 days) and those in London taking 55 days.

Housing Demand

  • Although mortgage approvals in August were 15% lower than a year ago, at 74,453 they were 10.5% higher than the longer term (2015-2019) August average. At £21.5 billion, gross mortgage lending in August was 11% higher year-on-year (Bank of England).
  • According to Rightmove buyer demand in the first week of August was up 56% compared to the same period in 2019. It was down 17% on the busy post lockdown period.
  • The August RICS sentiment survey results point to a slight softening of market activity. New buyer enquiries, and agreed sales have fallen for a second consecutive month. Survey participants foresee a steady market over the next three months.
  • The longer term (2015-2019) average. Sales up to £1 million were 78% higher, the £15,000 stamp duty saving reducing the SDLT payable on a main residence by 66%.

Investment/Lettings

  • Rental values are rising at their strongest pace in three years. Average values across the UK, excluding London, rose by 2.0% in the year to August (ONS). Rental values across the capital continue to buck the trend, 0.4% lower year-on -year.
  • At +66% the new balance of respondents noting a rise in renter demand across England and Wales is at its highest level ever recorded by the RICS monthly survey.
  • As with demand the net balance of agents in the RICS survey envisaging rental growth over the next 12 months is at its highest ever recorded level. The net balance of agents predicting a rise was higher in all regions except the North and Scotland.

Related Pages

Lennon James Property are a Cambridgeshire based Estate Agency on a mission to make your buying/selling process as seamless and stress-free as possible.

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