House prices go through the roof

Sheldon Bosley Knight has seen the busiest start to the year ever with house prices going through the roof (no pun intended).
And as we head into the traditionally busy home selling season there is no sign of things slowing down.
For the first three months of this year, our Gloucestershire offices have achieved on average 104.7% of asking prices advertised.
In Warwickshire the figure is 101.3% and in Worcestershire it’s 99.7%.
According to SBK’s head of residential sales, James Morton, the reason is simple – demand outstripping supply.
He said: “We have never seen anything like it and it’s simply down to more people wanting to buy from a limited housing stock.
“We have seen multiple offers, most above the asking price, and sales within days of the property going on the market.
“However, it’s therefore also a very competitive market for agents so we are delighted to see the hard work of our staff pay off with impressive figures.”
The situation locally has been replicated across the UK, with asking prices hitting record highs resulting in the national average topping £350,000 for the first time.
According to Rightmove, asking prices jumped by £5,760 in March, to reach £354,564, which is the largest increase at this time of year since March 2004.
James added: “Given our own stats, we would suggest anyone looking to put their house on the market should not hesitate.
“Although we recognise the cost of living crisis will have an impact on prices later on this year, we don’t see a slump, rather a move towards pre-pandemic levels.
“We always aim to be realistic when speaking to vendors as ultimately the market decides on whether the asking price is fair and reasonable.
“So, if you are after a free, no obligation quote, please call our office today.”