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60 Second Update: The Property Market in October 2021

22nd Oct 2021

Category: Property headlines

Every month we collate the best of the internet's property reports and data to give you a quick 60 second overview of everything you need to know about the lettings and sales markets. Here's October 2021's issue...

Property Market: Average Property Price Up Almost £6000

Last month it looked like property prices were beginning to stabilise, but the market continues to surprise us all! The price of property has surged again this month (up an average of almost £6000)! The jump represents the biggest rise in October since 2015. The experts at Rightmove put this down to strong housing market fundamentals and a window of opportunity to buy before a potential interest rate rise. View the full Report here.

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Rents Rise Across the Country as Rightmove Release Q3 Rental Trends Report

The country continues to see remarkable rental price increases this month, with the East Midlands still leading the way amongst the regions. Nottingham is highlighted in the report as a city benefiting from tenants moving back to city centres. According to the report, rents here are now 11% higher than pre-pandemic levels. The highest demand is for larger city centre flats (3-4 beds), with competition for these types of properties almost double what they were last year. View the full report here.



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