Asking prices for homes in England and Wales have gone up for the seventh month in a row, showing the market is still going strong. Prices rose by 0.2 percent in July, adding up to a 1.2% increase since the beginning of the year, according to the latest Home.co.uk Asking Price Index.

Every little bit helps! While it might not seem like much, this steady increase shows that homes are becoming more valuable. This is especially good news if you’re thinking of selling your home soon.

More homes for sale, but they’re selling fast! There are now more homes available for sale in England and Wales than we’ve seen in the past decade. This might sound like it would drive prices down, but don’t worry! Homes are still selling quickly, on average just four days slower than before the pandemic hit in 2019.

Where are the hotspots? The North-East is the place to be if you’re looking for the biggest price jumps. Homes there are now worth a whopping 6.5% more than last year! On the other hand, the South-West is lagging behind, with prices dipping slightly.

Could prices beat last year’s record? Some experts think that with the Bank of England cutting interest rates, we might see house prices reach a new all-time high in the next few months. This would be great news for sellers, but could make things tougher for first-time buyers.

What about renting? If you’re a landlord or a renter, you know things are tough right now. There are far fewer rental properties available compared to a few years ago. This shortage is pushing rents up and making it harder for people to find a place to live.

Landlords are worried! New rules and regulations being considered by the government are making landlords nervous. Some are even selling up, which could make the rental shortage even worse.

The bottom line: The property market is always changing, but right now it’s still a good time to be a seller. If you’re thinking about making a move, now might be the time to chat with an estate agent and see what your home is worth!