Recently listed – Grangely Close, Calcot, Reading – Offers Over £975,000 – Full details
Realistic and Competitive Pricing is Key to Selling in Tilehurst
By Charlie Higgs – Owner Village Properties
July and August are traditionally quieter periods within the property market, with families typically prioritising summer holidays over house hunting. However, the property market in Tilehurst and the wider Reading area is notably bucking this usual seasonal trend this summer.
According to the latest House Price Index from Rightmove, the number of property sales agreed in the area is currently up by 5% compared to this time last year. Additionally, enquiries from prospective buyers have seen a 6% year-on-year increase.
Why Competitive Pricing Matters
This increase in market activity is largely attributed to realistic and competitive pricing strategies adopted by sellers. Rightmove reports that new seller asking prices are just 0.1% higher than a year ago, highlighting the competitive environment and seller awareness. Alongside this, improving buyer affordability, fuelled by lower mortgage rates and wage growth surpassing inflation, is enhancing buyers’ purchasing power.
Understanding Asking Prices and Realised Sale Prices
Rightmove’s primary data source is asking prices, since actual sales data from the Land Registry arrives with a three-month lag. This makes asking prices the most current indicator of the property market’s state for buyers and estate agents alike.
This month, Rightmove reports a 1.2% decrease in the average asking price for newly listed properties. This drop corresponds with the highest availability of homes on the market in a decade, compelling sellers in Tilehurst to adopt more competitive pricing strategies from the outset to attract crucial buyer interest swiftly.
The Importance of Correct Pricing
While most mainstream media outlets may overly dramatise shifts in asking prices, the fundamental takeaway from the Rightmove Index is clear: realistic and competitive pricing significantly enhances the likelihood of a successful sale. The current market environment underscores improved affordability and increased buyer activity, especially when homes are accurately priced.
Colleen Babcock, property expert at Rightmove, notes, “We’re observing a compelling relationship between property pricing and buyer activity levels. The steady volume of agreed sales indicates motivated buyers are active and prepared to proceed when presented with properties priced appropriately. Accurate pricing is fundamental to successful property sales in this market.”
Mortgage Affordability Boosting Buyer Confidence
Rightmove’s monthly mortgage tracker reveals the current average two-year fixed mortgage rate at 4.53%, a notable reduction from 5.34% recorded last year. This substantial decrease equates to an average saving of nearly £150 per month on a typical mortgage, greatly improving affordability for buyers in Tilehurst.
Market forecasts currently anticipate two further Bank Rate cuts before year-end, potentially further boosting affordability and stimulating additional market activity.
Updated Market Predictions
Halfway through 2025, Rightmove has adjusted its Annual forecast on price growth from an initial +4% down to +2%. This revision primarily reflects the intense seller competition, which has curtailed price growth. Despite this, Rightmove maintains its prediction of around 1.15 million property transactions for the year.
For homeowners in Tilehurst considering selling this summer, understanding these market dynamics is crucial. Adopting realistic and competitive pricing is key to attracting serious buyers and ensuring a successful sale.
Recently Listed Homes by Village Properties
Here are just a few of the properties recently listed for sale from our Tilehurst Office –
House for Sale in Reading – Guide Price £800,000
House for Sale in Reading – Guide Price £700,000
House for Sale in Tilehurst – Offers Over £650,000
House for Sale in Reading – Guide Price £625,000
House Under Offer in Reading – Guide Price £325,000
To see the very latest homes coming to the market, click ‘New to market homes’, this lists all of the very latest homes as they come to the market.
Or see our ‘Recently Sold Properties’.
Moving This Summer?
If you are thinking of buying or selling a home in Tilehurst or the surrounding areas of Reading, please feel free to call me for an informal chat, I’ll be pleased to help you if I can.
You can also book a Face to Face Valuation, or use our Instant Online Valuation tool.
Thank you for reading
Charlie Higgs – Village Properties Tilehurst & Twyford
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