Early-Bird Catches the Worm
Early-bird sellers benefit from the busiest ever start to a New Year, according to Rightmove’s January House Price Index.
House price increases during January 2022 have resulted in the highest rate of growth year-on-year since May 2016. The average price of property coming to the market has increased by 7.8 per cent compared to this time last year.
Competition between buyers has almost doubled in comparison to January 2021. However, Rightmove has reported early signs that more property choices will soon be available on the market as the number of valuation requests has increased by 44 per cent.
Redbrik managing director, Mark Ross, commented: “Rightmove has recorded a 15 per cent increase in buyers enquiring about homes in comparison to this time last year, which means now is a great time to put your home on the market to maximise its value.
“To put yourself in the best possible position to get the home you want, you should become a ‘Power Buyer’. Power Buyers are the readiest to proceed with a purchase – either having sold their property or having cash in the bank or a mortgage in principle ready to buy.”
Early reports from property portal Zoopla also show that the demand for apartments in the sales market has rebounded as cities can fully re-open.
As working patterns become more hybrid for office-based staff, the draw of the office as a place for collaboration and engagement is expected to support the recovery of housing demand in cities in 2022.
Mark added: “Sellers looking to put their apartment on the market can now do so with confidence as buyer demand for these types of properties returns, particularly in city centres.”
Final phase of Sheffield digital campus reaches major construction milestone
A major construction milestone has been reached at the fourth and final building of the acclaimed Sheffield Digital Campus, as steelwork erection reaches its highest point.
Construction of the 62,862 sq ft building, which is being delivered by leading real estate developer and investor, Scarborough Group International (SGI), started in June 2021 and is scheduled to complete by Q4 2022.
GMI Construction Group PLC is the main contractor for the state-of-the-art office building which extends over seven floors and includes a private roof terrace on the sixth floor overlooking the city’s transport interchange, the iconic Park Hill Flats and panorama beyond. Adam Varley, development director at SGI, said:
“Our commitment to the speculative build is a major vote of confidence in Sheffield city centre, where the supply of existing and pipeline office space has diminished, leaving a major shortage of space to cater to existing and future demand.”
Lee Powell, CEO of GMI Construction Group PLC, said: “Sheffield Digital Campus is already recognised as one of the city’s most iconic office locations and is unquestionably one of the prime Northern Powerhouse developments and GMI is proud together with Scarborough Group International to be at the forefront of that.”
