Rightmove states that average asking prices have fallen £4,795, to a level of £365,173; and this represents a fall of 1.3% between July and August of this year. It is interesting to note the property portal believes this is a seasonal change, as opposed to an issue linked to the increase in interest rates.

At Fraser Reeves, we want to provide you with the best standard of support and guidance we can in the housing market, so stay in touch with us to see what comes next.

What do Rightmove say about this?

Tim Bannister, Rightmove's director of property science, said: "A drop in asking prices is to be expected this month, as the market returns towards normal seasonal patterns after a frenzied two years, and many would-be home movers become distracted by the summer holidays. We are still expecting price changes for the rest of the year to continue to follow the usual seasonal pattern, which means we'll end year at around 7% annual growth, even with the wider economic uncertainty.”

Tim Bannister continued by saying: “For those looking to move who are concerned about interest rate rises, it's important that they get a mortgage in principle early on in their moving journey to understand what they could afford to borrow, and find out about the rates available to them to assess what they are able to repay each month.”

How are house prices in Newton-Le-Willows faring?

According to Rightmove as of the end of August 2022, the Newton-Le-Willows property market is faring as follows;

“Properties in Newton-Le-Willows had an overall average price of £175,314 over the last year.

The majority of sales in Newton-Le-Willows during the last year were semi-detached properties, selling for an average price of £175,249. Terraced properties sold for an average of £150,408, with detached properties fetching £270,486.

Overall, sold prices in Newton-Le-Willows over the last year were 6% down on the previous year and 6% up on the 2019 peak of £164,863.”

With Rightmove figures suggesting Newton-Le-Willows property prices have fallen compared to this time last year, there is a suggestion that the local market is already moving in the predicted manner. Of course, there are many factors shaping property prices, and we’ll help you keep in touch with all the changes and key factors in and around Newton-Le-Willows.

Contact Fraser Reeves for all your Newton-le-Willows property needs

As local agents in Newton-le-Willows, we are keen to support vendors, buyers and landlords in the area as best we can. We offer an extensive range of services, aimed at helping you make your next move with confidence.

If you would like to arrange a property valuation, or discuss your property options, please call Fraser Reeves on 01925 222555.