Category: Market Updates

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UK Property Market Forecast 2025

UK Property Market Forecast 2025

UK Property Market Forecast 2025

A Detailed Analysis of Current Trends and Future Prospects

Executive Summary

The UK property market has demonstrated remarkable resilience throughout 2024, defying earlier predictions of stagnation. Instead, the market has experienced stabilisation and moderate growth, with projections for 2025 indicating further positive momentum. Buoyed by improving economic conditions, falling mortgage rates, and a shift in market sentiment, house prices and buyer activity are expected to climb, although potential challenges such as stamp duty changes and wage growth uncertainties remain on the horizon.

Market Overview: December Trends and Seasonal Adjustments

New seller asking prices have fallen by a seasonal 1.7% this December, equivalent to a £6,395 decrease, bringing the average asking price to £360,197. This decline aligns with the typical pre-Christmas dip, as sellers aim to attract buyers during a period of reduced market activity. Despite this, house prices have ended the year 1.4% higher than December 2023 levels, reflecting overall market resilience.

The festive season typically sees reduced activity as buyers turn their attention to holiday preparations. However, this year, activity has remained notably robust, with the number of sales agreed up by 22% compared to the same period last year. Furthermore, new buyer demand has risen by 13%, showcasing a stronger appetite for property acquisitions than was seen in 2023.

The Boxing Day Bounce: A Key Date in the Property Market Calendar

Boxing Day has increasingly become a pivotal moment for the UK housing market. In 2023, a record number of sellers launched their properties for sale on this day, capitalising on renewed buyer interest. Rightmove reported a dramatic 273% surge in buyer demand between Christmas Day and Boxing Day, driven by fresh property listings and increased market activity. This trend is expected to continue in 2024, creating a dynamic start to the New Year.

According to Tim Bannister, Rightmove’s Director of Property Science:

“The 1.7% average monthly fall in December asking prices can be seen as a festive gift for buyers still active in the market. This slight drop in prices serves as a timely incentive for motivated buyers amidst the holiday distractions. Looking ahead, Boxing Day has firmly established itself as a key date for movers. It’s the moment when the Turkey is finished, games are set aside, and mobile phones come out to kick-start property searches for the year ahead.”

Regional Dynamics and First-Time Buyer Market Resilience

While the national market has experienced a seasonal downturn, prices in the first-time buyer sector remain comparatively strong, particularly for homes priced below £300,000. In more affordable regions such as the North East, prices for typical first-time buyer properties have risen by 1.0% this month, contrasting with the national average 1.7% fall. This resilience reflects the sustained demand from first-time buyers who are less affected by stamp duty changes due to the £300,000 exemption threshold.

Conversely, in higher-priced regions such as London and the South East, the looming stamp duty deadline in March 2025 has spurred increased activity among sellers of smaller properties. Many are seeking to complete sales before higher tax rates come into effect. Over the past four weeks, the number of sellers listing two-bedroom homes or smaller in London has risen by 20%, with the South East following at 16%.

2025 Market Forecast: Growth and Emerging Challenges

Rightmove predicts a 4% rise in new seller asking prices for 2025, underpinned by anticipated reductions in mortgage rates. Lower borrowing costs are expected to boost affordability and stimulate further market activity. However, potential challenges include the impact of the 2025 stamp duty changes and broader economic factors such as inflation and wage growth uncertainties.

Key Forecast Highlights for 2025:

  • Nationwide Price Growth: Predicted at 2.5–4% year-on-year, depending on regional variations.
  • Mortgage Rate Reductions: Expected to improve affordability and buyer confidence.
  • Stamp Duty Influence: Likely to create urgency in early 2025 but could dampen activity in higher-priced sectors later in the year.

Affordability and the First-Time Buyer Landscape

Affordability remains a central theme in the property market. First-time buyer homes (defined as properties with two bedrooms or fewer) have shown resilience, with average prices remaining accessible to many. Analysis of average monthly mortgage payments and rents indicates a growing advantage for buyers, particularly as mortgage rates are expected to decline further in 2025.

The affordability to buy a first home is calculated using the Office for National Statistics’ (ONS) Average Weekly Earnings (AWE) data, multiplied by a loan-to-income ratio of 4.5. This provides a benchmark for the typical borrowing capacity of first-time buyers, highlighting the ongoing opportunities in this segment of the market.

 

Broader Economic Context and Sentiment Shift

The property market’s performance mirrors the broader UK economic landscape, which has displayed adaptability in the face of uncertainty. Aneisha Beveridge, Research Director at Hamptons, notes:

“The mood of the housing market has shifted from trepidation to cautious optimism. Buyers and sellers alike are re-entering the market with greater confidence, buoyed by stabilising prices and improving affordability.”

This shift is reflected in a 25% increase in market activity on platforms such as Zoopla, underscoring renewed buyer engagement and investor interest.

Strategic Recommendations for 2025

For Buyers:

  • Act swiftly to take advantage of pre-stamp duty deadline opportunities.
  • Focus on regions with strong price growth potential, particularly in the North and Midlands.

For Sellers:

  • Leverage the Boxing Day bounce by listing properties early in the New Year.
  • Consider market timing carefully, particularly in higher-priced areas facing potential tax increases.

For Investors:

  • Diversify geographically to include emerging markets with robust growth indicators.
  • Monitor interest rate trends and affordability metrics to identify optimal investment windows.

Summary of UK Property Market Forecast 2025

  • New Seller Asking Prices:
    • Seasonal drop of 1.7% (-£6,395) in December, bringing the average price to £360,197.
    • Prices end 2024 up 1.4% compared to December 2023.
  • Boxing Day Bounce:
    • Boxing Day 2023 saw record activity, with new sellers and a 273% jump in buyer demand compared to Christmas Day.
    • A strong Boxing Day bounce is anticipated in 2024 due to increased buyer engagement and fresh property listings.
  • Market Activity:
    • Number of sales agreed is up 22% year-on-year, while buyer enquiries have risen by 13%.
    • First-time buyer properties are holding prices well, especially below the £300,000 threshold.
  • Regional Dynamics:
    • Sellers of smaller homes in higher-priced areas, like London and the South East, are rushing to avoid the March 2025 stamp duty deadline.
    • Stronger price performance is seen in more affordable regions, like the North East.
  • Affordability and Mortgage Trends:
    • Anticipated mortgage rate drops are expected to improve affordability and stimulate market activity in 2025.
    • First-time buyer affordability remains a key focus, with typical homes under £300,000 less affected by rising taxes.

 

 

  • 2025 Projections:
    • Rightmove predicts a 4% rise in new seller asking prices for 2025, with increased market confidence due to falling mortgage rates.
    • Regional growth disparities persist, with Northern Ireland and the North West likely to lead gains.
  • Challenges Ahead:
    • Stamp duty increases and broader economic factors like inflation and wage growth may temper market activity later in 2025.

Conclusion

The UK property market enters 2025 with cautious optimism, underpinned by strong activity levels, improving affordability, and the potential for further growth. While the looming stamp duty deadline and other economic uncertainties present challenges, the resilience of key market sectors, particularly first-time buyer properties, suggests a dynamic year ahead. Buyers and sellers who act decisively, particularly in regions with stronger growth prospects, stand to benefit most in a market poised for steady progress.

 

 

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UK Housing Market Analysis: October 2024

Trellows Property Market Update October 2024

UK Housing Market Analysis: October 2024

Executive Summary

The British property market has experienced a notable upturn, principally driven by the most favourable mortgage rates witnessed in 15 months. This renaissance in market activity has manifested in a 25% surge in property transactions compared to 2023, whilst maintaining measured price growth that reflects ongoing affordability constraints. The average UK house price now stands at £267,100 as of August 2024, marking a modest year-on-year increase of 0.7%.

Mortgage Market Developments

The lending landscape has undergone significant transformation, with the average five-year fixed-rate mortgage at 75% loan-to-value dropping to 4.3%, a marked improvement from 5.5% recorded the previous year. This represents the most attractive rates since May 2023, catalysed by fierce competition amongst lending institutions. The enhanced affordability has proved particularly beneficial for borrowers with substantial equity positions.

Regional Market Dynamics

### Strong Performance in Affordable Regions
– Northern regions and the Midlands continue to demonstrate resilience
– Price growth reaching 2.5% in more affordable localities
– The East Midlands and North East have witnessed transaction volumes exceeding 30% growth

### Southern England’s Mixed Picture
– The South West, South East, and East of England demonstrate negative year-on-year price growth
– London has executed a remarkable turnaround, transitioning from -1.7% depreciation to a modest 0.5% appreciation
– Northern Ireland leads the regional performance metrics with 5.5% growth, representing a significant catch-up phase following previous underperformance

## Supply-Side Analysis

### Chain-Free Properties
A noteworthy 32% of properties currently listed on Zoopla are being marketed as chain-free, with distinct patterns emerging across property types:
– Outside London: One and two-bedroom flats dominate the chain-free segment
– Within London: Two and three-bedroom houses represent the majority of chain-free offerings

### Investment Property Liquidation
The market has observed a significant influx of previously rented properties, constituting 13% of current listings. This trend is particularly pronounced in London and the South East, accounting for 53% of such properties, where:
– Modest rental yields
– Elevated mortgage costs
– Subdued capital appreciation
have collectively diminished investment returns.

## Coastal and Rural Market Dynamics

Several coastal and rural postcodes have experienced remarkable supply increases exceeding 40%, including:
– Truro
– Torquay
– Exeter
– Bournemouth
– Lincoln
– Norwich

This surge can be partially attributed to impending council tax modifications, with many English local authorities planning to double charges on second homes from 2025.

## Price Negotiation Trends

The market continues to favour pragmatic negotiation:
– 37% of successful transactions are concluded at values exceeding 5% below initial asking prices
– Sellers maintain aspirational pricing strategies whilst demonstrating increasing flexibility
– Buyers benefit from expanded choice and retain significant negotiating leverage

## Market Activity Indicators

### Buyer Demand
– 26% increase in prospective buyer enquiries compared to 2023
– Sustained improvement in transaction volumes across all regions
– Enhanced affordability metrics supporting maintained momentum

### Property Supply
– 12% increase in available properties compared to the previous year
– One-fifth of current listings represent properties previously marketed within the past 24 months
– Similar proportion of listings have undergone price adjustments exceeding 5%

## Future Market Outlook

### Short-term Projections
– Anticipated continuation of modest price appreciation
– Projected stability in transaction volumes
– Expected mortgage rates to stabilise between 3.75% and 4.25% into 2025

### Market Stabilisation Factors
– Rising household incomes improving affordability metrics
– Competitive mortgage market maintaining favourable lending conditions
– Balanced supply-demand dynamics supporting sustainable growth

### Risk Factors
– Global economic uncertainty potentially affecting interest rate trajectories
– Regional variations in market performance likely to persist
– Implementation of local authority tax changes affecting second home markets

## Recommendations for Market Participants

### For Sellers
– Maintain realistic price expectations
– Consider market position carefully when setting asking prices
– Prepare for longer marketing periods in certain segments

### For Buyers
– Capitalise on favourable mortgage rates whilst available
– Conduct thorough market research to identify value opportunities
– Maintain strong negotiating positions through proper preparation

## Concluding Observations

The British property market demonstrates encouraging signs of recovery whilst maintaining balanced growth dynamics. The combination of improved lending conditions, steady demand, and measured price appreciation suggests a sustainable trajectory for the remainder of 2024 and into 2025. However, success for both buyers and sellers will continue to depend upon realistic expectations and strategic approaches to market engagement.

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Property Market Update for Northamptonshire NN7

Trellows Market Update

Property Market Update for Northamptonshire NN7

The property market in Northamptonshire NN7 has seen significant activity and fluctuations over the past year. Let’s delve into the data to understand the trends and dynamics shaping the housing landscape in this area.

Average Property Prices

Properties in NN7 have shown resilience in terms of their average prices over the last year. The overall average price stood at £405,037, showcasing stability despite various market pressures.

Property Types and Prices

The market in NN7 exhibits diversity in property types, catering to different preferences and needs. Here’s a breakdown of average prices based on property types:

– **Detached Properties**: The majority of sales in NN7 were detached properties, commanding an average price of £544,201. This suggests a preference for spacious and standalone homes in the area.

– **Semi-Detached Properties**: Semi-detached properties also saw healthy demand, with an average price of £310,951, making them an attractive option for buyers seeking a balance between space and affordability.

– **Terraced Properties**: Terraced properties, while generally more affordable, still fetched a respectable average price of £258,287, appealing to those looking for compact and cosy living spaces.

Market Performance

Despite the resilience shown in average prices, the market in NN7 experienced a slight downturn compared to the previous year, with sold prices being 6% lower. However, there was an 8% increase compared to the peak prices recorded in 2021, indicating a gradual recovery and potential for long-term growth.

Market Activity

The number of properties on the market, properties sold subject to contract, and properties available paint a picture of ongoing activity and interest in the NN7 area.

– **Properties on the Market**: Currently, there are 395 properties on the market, suggesting a healthy inventory for prospective buyers to explore.

– **Properties Sold Subject to Contract**: Over the past year, 194 properties have been sold subject to contract, indicating steady transactional activity.

– **Properties Available**: With 201 properties still available, there are ample opportunities for buyers to find their ideal home in NN7.

Recent Sales

Address Bed/Type Price Date Sold Tenure
47, Oaklands, Bugbrooke, Northampton, West Northamptonshire NN7 3QU 4 bed, semi-detached £297,500 28 Feb 2024 Freehold
2, Wallwin Close, Roade, Northampton, West Northamptonshire NN7 2NA 3 bed, detached £360,000 27 Feb 2024 Freehold
9, Church Way, Grendon, Northampton, North Northamptonshire NN7 1JE 2 bed, detached £312,500 5 Feb 2024 Freehold
18, Chaplins Drive, Roade, Northampton, West Northamptonshire NN7 2PX Semi-Detached £285,000 29 Jan 2024 Freehold
4, The Green, Church Stowe, Northampton, West Northamptonshire NN7 4SN 5 bed, detached £725,000 17 Jan 2024 Freehold
8, Lancers Way, Weedon, Northampton, West Northamptonshire NN7 4PH 4 bed, terraced £230,000 17 Jan 2024 Freehold
364, Grendon Road, Whiston, Northampton, North Northamptonshire NN7 1NP Detached £505,000 16 Jan 2024 Freehold
Manor Farm, Roade Hill, Ashton, Northampton, West Northamptonshire NN7 2JH Detached £720,000 9 Jan 2024 Freehold
52, Hillside Crescent, Nether Heyford, Northampton, West Northamptonshire NN7 3LS 2 bed, detached £280,000 3 Jan 2024 Freehold
22, Main Road, Hackleton, Northampton, West Northamptonshire NN7 2AB Terraced £225,000 3 Jan 2024 Freehold
4, Laddermakers Yard, Bugbrooke, Northampton, West Northamptonshire NN7 3RG Detached £600,000 19 Dec 2023 Freehold
7, Garners Way, Harpole, Northampton, West Northamptonshire NN7 4DN 3 bed, flat £320,000 18 Dec 2023 Freehold
11, Harmans Way, Weedon, Northampton, West Northamptonshire NN7 4PB 3 bed, semi-detached £212,500 15 Dec 2023 Freehold
51, Salcey Avenue, Hartwell, Northampton, West Northamptonshire NN7 2HQ 3 bed, semi-detached £260,000 15 Dec 2023 Freehold
3, Walkers Way, Roade, Northampton, West Northamptonshire NN7 2GA Semi-Detached £310,000 15 Dec 2023 Freehold
Wisteria House, 1, Kings Lane, Flore, Northampton, West Northamptonshire NN7 4LQ Detached £250,000 11 Dec 2023 Freehold
14, The Banks, Hackleton, Northampton, West Northamptonshire NN7 2AF 3 bed, semi-detached £220,000 8 Dec 2023 Freehold
Hilltop, Roade Hill, Ashton, Northampton, West Northamptonshire NN7 2JH 4 bed, detached £586,500 8 Dec 2023 Freehold
16, Bedford Road, Denton, Northampton, West Northamptonshire NN7 1DR 4 bed, detached £710,000 1 Dec 2023 Freehold
8, Dukes Green Road, Kislingbury, Northampton, West Northamptonshire NN7 4AX 4 bed, semi-detached £370,000 30 Nov 2023 Freehold

Conclusion

In conclusion, the property market in Northamptonshire NN7 exhibits resilience and diversity, offering a range of properties to suit varying preferences and budgets. Despite minor fluctuations, average prices have remained stable, indicating a robust market with potential for growth. With ample inventory and ongoing activity, NN7 presents an attractive opportunity for both buyers and sellers in the housing market.

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Northamptonshire NN17 Property Market Update – August 2023

Trellows Market Update

Northamptonshire NN17 Property Market Update – August 2023

**Exploring House Prices in NN17: A Year in Review**

If you’re keeping an eye on the property market, specifically in the NN17 area, you’re in for an interesting read. Over the past year, the housing landscape has seen some notable shifts, and we’re here to break it down for you. From average prices to property types, we’ve got the scoop on all things real estate in NN17.

**Average House Prices: A Snapshot**

Properties in NN17, North Northamptonshire, have been making headlines, with an overall average price of £255,488 recorded over the last year. This figure is a crucial indicator of the region’s real estate market health and can provide valuable insights for both buyers and sellers alike.

**Diverse Property Types and Their Prices**

One intriguing aspect of NN17’s real estate scene is the variety of property types available. Here’s a breakdown of the average prices for different property types:

– Semi-Detached Properties: The semi-detached properties have clearly been in demand, with an average selling price of £230,431. These homes offer a balance of space and privacy, making them a popular choice among buyers.

– Terraced Properties: Terraced properties also saw a fair share of attention, selling for an average price of £222,455. These homes often boast cozy layouts and a strong sense of community.

– Detached Properties: The detached properties take the spotlight with an average price of £422,549. These spacious and independent homes come at a premium but offer unparalleled privacy and comfort.

**Market Trends and Insights**

Zooming out for a broader view, the sold prices in NN17 over the last year have shown a 2% increase compared to the previous year. What’s even more impressive is that these prices have risen by 6% since the peak in 2020 when they reached £240,041. These trends reflect the dynamics of the housing market, indicating the area’s desirability and potential for value appreciation.

**Behind the Numbers: Notable Sales**

Let’s delve into some intriguing real-life examples of properties sold in NN17 over the past year:

– **122, Stephenson Way, Corby, North Northamptonshire NN17 1DE**
A 3-bedroom semi-detached property that changed hands for £133,000 on 14 June 2023. It had previously sold for £74,000 on 5 December 2003.

– **4, Lindersmith Close, Weldon, Corby, North Northamptonshire NN17 3ND**
This semi-detached property fetched £117,000 on 2 June 2023. While no other historical records are available, the property stands as a testament to the evolving market.

– **29, The Brontes, Corby, North Northamptonshire NN17 2NH**
A 2-bedroom terraced property, sold for £190,000 on 2 June 2023. Its history includes previous sales of £97,000 on 10 September 2007 and £82,500 on 18 November 2005.

These transactions provide a glimpse into the range of properties available in NN17 and the diversity of their prices.

**Closing Thoughts**

As we wrap up this exploration of house prices in NN17, it’s clear that the area’s real estate market is vibrant and evolving. With a mix of property types and a consistent trend of increasing prices, NN17 proves to be an intriguing destination for both homebuyers and investors. Whether you’re looking for a cozy terraced property, a spacious detached house, or a semi-detached gem, NN17 has something for everyone in the dynamic world of real estate. Stay tuned for more updates as the market continues to unfold its story.

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Property Market Update – Berkshire August 2023

Trellows Property Market Update

Property Market Update – Berkshire August 2023

**Exploring House Prices in Berkshire: A Year of Trends and Transactions**

When it comes to the real estate market, numbers tell a story of their own. In Berkshire, a picturesque county in the heart of England, house prices have been painting an intriguing picture over the past year. From soaring detached properties to charming terraced homes, the landscape of the Berkshire housing market has seen its fair share of ups and downs. Let’s dive into the data to understand the trends and transactions that have unfolded in this charming corner of the country.

**Average Prices and Property Types**

Berkshire, known for its historical significance and stunning landscapes, has been a hotspot for homebuyers and investors alike. The past year witnessed an overall average property price of £543,680 in the county. But that’s just the tip of the iceberg. Delving deeper, we find that the majority of transactions involved detached properties, which fetched an impressive average price of £911,087. Semi-detached homes followed suit, with an average price of £503,728, while the quaint terraced properties garnered a respectable average of £416,907.

**Year-on-Year Growth and Peaks**

The Berkshire housing market hasn’t been idle. Over the last year, sold prices surged by 4% compared to the previous year’s figures. And for those keeping track of historical milestones, this surge was an 11% leap from the peak prices recorded in 2020, which stood at £489,743. This upward trajectory signifies the resilience and desirability of properties within this charming county.

**Spotlight on Transactions**

Behind every price tag lies a unique story, a history of transactions that have shaped the landscape of Berkshire. Let’s take a peek at some notable transactions that have transpired recently:

1. **7, Gwyns Piece, Lambourn, Hungerford, West Berkshire RG17 8YZ**
– Property Type: 4 bed, detached
– Price: £345,000 (Sold on 22 Jun 2023, Freehold)

2. **3, Sunray Estate, Sandhurst, Bracknell Forest GU47 8EQ**
– Property Type: 3 bed, detached
– Price: £540,000 (Sold on 21 Jun 2023, Freehold)

3. **39, Guildford Road, Chertsey, Surrey KT16 9BH**
– Property Type: 1 bed, terraced
– Price: £245,000 (Sold on 19 Jun 2023, Freehold)

… and the list goes on, with each address telling a tale of its own.

**A Glimpse into the Future**

As we peer into the future of Berkshire’s real estate market, one thing remains clear: the allure of this county continues to capture the hearts and wallets of buyers and investors alike. With its mix of property types and steady growth, Berkshire is undoubtedly a region to watch closely. As trends evolve and transactions unfold, the housing market here promises to be a journey of both history and opportunity.

In conclusion, the house prices in Berkshire have had an eventful year, marked by rising averages, diverse property types, and intriguing transactions. With growth surpassing historical peaks, the Berkshire housing market is a testament to the enduring charm and value of properties in this English county. Whether you’re a seasoned investor or a hopeful homeowner, Berkshire’s real estate landscape offers a canvas of possibilities waiting to be explored.

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Northamptonshire Property Market Update – August 2023 NN16

Trellows Market Update

Northamptonshire Property Market Update – September 2023 NN16

**Exploring House Prices in NN16: A Year in Review**

Are you curious about the real estate landscape in NN16? Well, you’re in luck! In this blog post, we’ll dive into the intricacies of property prices, trends, and recent sales in this area. Whether you’re a potential buyer, seller, or just a keen observer, let’s uncover the insights together.

**A Glimpse at NN16 House Prices**

Over the past year, NN16 has seen a dynamic real estate market with properties boasting an average price of £226,892. This figure serves as a testament to the area’s attractiveness and the demand for its homes.

**Variety in Property Types**

Within the NN16 area, the property landscape is diverse, catering to a range of preferences. Throughout the last year, terraced properties have been the stars of the show, selling at an average price of £203,505. Not far behind, semi-detached properties have fetched an average of £244,871, while the allure of detached properties has seen them command an impressive £343,490.

**An Upward Trend**

The NN16 property market has been on an upward trajectory, evident from the 11% increase in sold prices compared to the previous year. Additionally, there’s been a noteworthy 20% surge from the peak price of £188,999 in 2020. These figures not only indicate a healthy market but also reflect the desirability and value appreciation of properties in NN16.

**Snapshot of Recent Sales**

Let’s take a closer look at some of the recent property sales in NN16:

1. **Flat 52, Oaktree Court, George Street**
– Property Type: 2 bed, flat
– Price: £120,000 (Sold on 6 Jun 2023, Leasehold)
– Additional Records: £120,000 (18 Sep 2014, Leasehold), £125,000 (24 Sep 2010, Leasehold)

2. **57, Masefield Road**
– Property Type: 2 bed, semi-detached
– Price: £196,000 (Sold on 2 Jun 2023, Freehold)
– Historical Records: £150,000 (31 Oct 2019, Freehold)

3. **35, Eden Street**
– Property Type: 3 bed, semi-detached
– Price: £240,000 (Sold on 2 Jun 2023, Freehold)
– Historical Records: £97,000 (6 Apr 2004, Freehold)

…and the list goes on.

**Conclusion**

The NN16 real estate market has shown resilience and growth over the past year, with a diverse array of properties catering to various preferences. From terraced to semi-detached and detached properties, the market has something for everyone. The upward trend in prices highlights the appeal and value appreciation of homes in NN16, making it an area to watch for both buyers and sellers.

As the real estate landscape continues to evolve, it’s essential to stay informed about local trends and recent sales. Whether you’re considering a property purchase or just intrigued by the dynamics of the market, NN16’s housing story is one of steady growth and promise.

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Property Market Update – Leicestershire August 2023

Trellows Property Market Update

Property Market Update – Leicestershire August 2023

**Exploring House Prices in Leicestershire: A Snapshot of the Market**

Are you curious about the property market in Leicestershire? Whether you’re a potential buyer, seller, or just an avid observer of real estate trends, understanding the current state of house prices can provide valuable insights. In this blog post, we’ll take a closer look at the recent trends and notable transactions in Leicestershire’s housing market.

**Average House Prices in Leicestershire**

Over the past year, properties in Leicestershire have exhibited interesting price dynamics. The average price for properties in the region settled at approximately £275,284. This number serves as a broad indicator of the market’s health and can help potential buyers and sellers gauge their expectations.

**Property Types and Their Prices**

Property types play a significant role in shaping the real estate landscape, and Leicestershire is no exception. Let’s break down the average prices based on different property types:

1. **Semi-Detached Properties:** Semi-detached properties were the dominant choice among buyers in the past year. The average price for a semi-detached property in Leicestershire stood at £253,827.

2. **Terraced Properties:** Terraced properties, known for their charming character, commanded an average price of £204,217. These homes often offer a mix of history and functionality.

3. **Detached Properties:** If you’re seeking more space and privacy, detached properties might be your preference. On average, these homes fetched a higher price of £416,012.

**Noteworthy Transactions**

Let’s delve into some specific property transactions that occurred recently, offering a glimpse into the diversity of the market:

1. **17, Barlestone Drive, Hinckley:** This 3-bedroom detached property changed hands for £320,000 on June 20, 2023. The property provides freehold ownership, making it an attractive prospect for homeowners.

2. **67, Chepstow Road, Corby:** A detached property with historical records dating back to 2006, this residence was sold for £380,000 on June 20, 2023. Its freehold status adds to its appeal.

3. **1, Parkers Close, Blackfordby:** For those seeking a detached property with 2 bedrooms, this home was sold for £182,500 on June 19, 2023. Its freehold ownership adds to its appeal.

4. **95, Lavender Avenue, Coventry:** A terraced property offering historical records dating back to 2012, this residence was sold for £260,000 on June 19, 2023. Its freehold status adds to its appeal.

5. **6, Warmsley Avenue, Wigston:** This 3-bedroom semi-detached property, boasting a history dating back to 1999, changed hands for £266,000 on June 19, 2023.

**Final Thoughts**

As evident from these recent transactions, Leicestershire’s housing market is diverse and dynamic. Whether you’re interested in the classic charm of terraced properties, the space offered by detached homes, or the practicality of semi-detached residences, the market has something for everyone. Understanding the trends and prices in the market can provide a solid foundation for making informed decisions, whether you’re a buyer, seller, or just a keen observer of real estate developments. Keep an eye on these trends as they evolve, and who knows, your dream home might be just around the corner in the beautiful region of Leicestershire.

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Northamptonshire Property Market Update – August 2023 NN15

Trellows Market Update

Northamptonshire Property Market Update – August 2023 NN15

 

**Introduction**

In this blog post, we will take a closer look at the housing market in NN15, a region in North Northamptonshire. Over the last year, NN15 has seen a notable rise in property prices. We’ll explore the overall average house price, the types of properties that were popular among buyers, and some specific sold properties to get a better understanding of the current state of the housing market in NN15.

**NN15 House Price Overview**

Properties in NN15 have experienced a significant increase in value over the past year. The overall average price of properties in NN15 during this period was £290,641. This represents a 7% increase compared to the previous year and an impressive 13% increase from the 2018 peak of £257,198.

**Property Types and Average Prices**

The majority of sales in NN15 over the last year were semi-detached properties, which sold for an average price of £256,559. Detached properties were the most expensive, with an average selling price of £391,096. Terraced properties, on the other hand, had an average selling price of £221,527.

**Sold Properties**

Now, let’s take a look at some specific properties that were sold in NN15 recently:

Date Sold Property Address Property Type Sale Price (£) Tenure
12 May 23 47, Merrivale Close, Kettering, NN15 6FY 3 bed, terraced £250,000 Freehold
11 May 23 5, Lily Close, Burton Latimer, NN15 5GD 1 bed, flat £152,000 Freehold
5 May 23 1, West Furlong, Kettering, NN15 7LF 2 bed, detached £350,000 Freehold
5 May 23 89b, Northampton Road, Kettering, NN15 7JZ 3 bed, detached £455,000 Freehold
5 May 23 12, Wilkie Close, Kettering, NN15 7RD Detached £440,000 Freehold
5 May 23 27b, Virginia Crescent, Burton Latimer, NN15 5GB Semi-Detached £219,950 Freehold
5 May 23 52, Greenfield Avenue, Kettering, NN15 7LL 3 bed, semi-detached £260,000 Freehold
28 Apr 23 37, Ise Road, Kettering, NN15 7DT 3 bed, semi-detached £275,000 Freehold
28 Apr 23 31, Deeble Road, Kettering, NN15 7AB 3 bed, semi-detached £212,000 Freehold
28 Apr 23 16, Riverview, Burton Latimer, NN15 5PP Detached £600,000 Freehold
27 Apr 23 7, Buckingham Court, Kettering, NN15 6GF 6 bed, detached £625,000 Freehold
27 Apr 23 90, The Oval, Kettering, NN15 6BA 3 bed, semi-detached £195,000 Freehold
24 Apr 23 51, Gotch Road, Barton Seagrave, NN15 6UF 2 bed, semi-detached £126,704 Freehold
21 Apr 23 20, Larch Road, Kettering, NN15 7BH 3 bed, semi-detached £258,000 Freehold
21 Apr 23 40, Belvoir Drive, Barton Seagrave, NN15 6RB 3 bed, semi-detached £306,000 Freehold
20 Apr 23 40, Milldale Road, Kettering, NN15 6QD 3 bed, terraced £320,000 Freehold
20 Apr 23 4, Clive Close, Kettering, NN15 5BQ 2 bed, detached £325,000 Freehold
14 Apr 23 39, Rydalside, Kettering, NN15 7DR 3 bed, semi-detached £330,000 Freehold
14 Apr 23 49, Finedon Street, Burton Latimer, NN15 5SB 2 bed, terraced £182,000 Freehold
14 Apr 23 2, Sussex Road, Kettering, NN15 6JX 2 bed, semi-detached £220,000 Freehold
11 Apr 23 18, Yateley Drive, Barton Seagrave, NN15 6BN 5 bed, detached £475,000 Freehold
11 Apr 23 14, Fitzwilliam Drive, Barton Seagrave, NN15 6RG 3 bed, semi-detached £265,000 Freehold
6 Apr 23 59, St Catherines Road, Kettering, NN15 5EN 2 bed, semi-detached £260,000 Freehold
6 Apr 23 5, St Chads Close, Kettering, NN15 5HU 3 bed, semi-detached £285,000 Freehold
6 Apr 23 30, Wheatfield Drive, Burton Latimer, NN15 5YL 3 bed, terraced £295,000 Freehold

**Conclusion**

The housing market in NN15 has shown remarkable growth over the last year, with average property prices surging by 7% from the previous year and 13% from the 2018 peak. The popularity of semi-detached properties among buyers has contributed to their higher average selling price compared to terraced properties. Detached properties, while being the most expensive, have also seen strong demand.

As the market continues to evolve, it is essential for prospective buyers and sellers to keep a close eye on these trends to make informed decisions. Whether you’re looking to purchase your dream home or sell your property in NN15, understanding the market dynamics is crucial.

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Trellows Property Market Update – Cambridgeshire July 2023

Trellows Property Market Update

Trellows Property Market Update – Cambridgeshire July 2023

**House Prices in Cambridgeshire: A Look at the Market Trends**

Cambridgeshire, known for its prestigious universities, picturesque countryside, and vibrant cities, has become a desirable location for property buyers and investors. As the region continues to attract people from all walks of life, let’s take a closer look at the current house prices in Cambridgeshire and the trends that have shaped the market over the last year.

**Overall Average Price**

Over the past year, properties in Cambridgeshire had an overall average price of £376,949. This figure encompasses various types of properties, ranging from detached houses to flats, and provides a general understanding of the region’s property market.

**Detached Properties**

Detached properties have dominated the market in Cambridgeshire, with the majority of sales falling under this category. The average price of a detached house in the region was £515,434 over the last year. These spacious and independent homes have proven to be popular among buyers seeking privacy and ample living space.

**Semi-Detached Properties**

Semi-detached properties, another sought-after choice for families and first-time buyers, had an average selling price of £338,312. These homes offer a good compromise between affordability and space, making them a practical option for many buyers.

**Terraced Properties**

Terraced properties, often offering a charming and compact living space, had an average selling price of £306,726 in Cambridgeshire. These homes can be a great choice for buyers seeking a sense of community and a central location.

**Market Trends**

The property market in Cambridgeshire experienced significant growth over the last year. Sold prices were 7% higher compared to the previous year, showcasing a strong demand for properties in the region. Moreover, prices were up by an impressive 14% when compared to the 2020 peak of £330,837, indicating a sustained upward trend in property values.

**Noteworthy Sales**

Let’s take a look at some notable property sales in Cambridgeshire:

Date sold Property Address Property Type Sale Price (£) Tenure
23 May 2023 25, The Oaks, Soham, Ely, Cambridgeshire CB7 5FF Detached £625,000 Freehold
19 May 2023 93, Appletrees, Bar Hill, Cambridge, Cambridgeshire CB23 8SW Detached £430,000 Freehold
19 May 2023 17, Star Lane, Ramsey, Huntingdon, Cambridgeshire PE26 1JJ Detached £295,000 Freehold
19 May 2023 4, Vicarage Close, Oakington, Cambridge, Cambridgeshire CB24 3AN Detached £475,000 Freehold
19 May 2023 Flat 4, The Grange, 65, High Street, Somersham, Huntingdon, Cambridgeshire PE28 3JB Flat £105,000 Leasehold
19 May 2023 15, Westhawe, Bretton, Peterborough, City Of Peterborough PE3 8BA Detached £573,000 Freehold
18 May 2023 25, Vicarage Way, Trumpington, Cambridge, Cambridgeshire CB2 9NT Detached £840,000 Freehold
17 May 2023 44, Roman Way, Godmanchester, Huntingdon, Cambridgeshire PE29 2RW Terraced £310,000 Freehold
17 May 2023 17, Weddell Road, Haverhill, Suffolk CB9 0LE Detached £330,000 Freehold
17 May 2023 8, Malting Yard, Ramsey, Huntingdon, Cambridgeshire PE26 1DL Flat £130,000 Leasehold
17 May 2023 9, Atkinson Street, Peterborough, City Of Peterborough PE1 5HW Terraced £180,000 Freehold
17 May 2023 29a, Woodpecker Way, Great Cambourne, Cambridge, Cambridgeshire CB23 6GZ Semi-detached £170,000 Leasehold
16 May 2023 37, Listers Road, Upwell, Wisbech, Norfolk PE14 9BW Detached £325,000 Freehold
16 May 2023 1, Osprey Road, Biggleswade, Central Bedfordshire SG18 8DZ Terraced £315,000 Freehold
16 May 2023 15, Bridge Road, Bedford MK42 9LJ Semi-detached £260,000 Freehold
16 May 2023 16, School Road, Terrington St John, Wisbech, Norfolk PE14 7SE Semi-detached £140,000 Freehold
16 May 2023 64, Ross Close, Saffron Walden, Essex CB11 4AY Flat £265,000 Leasehold
15 May 2023 10, Payton Way, Waterbeach, Cambridge, Cambridgeshire CB25 9NS Semi-detached £395,000 Freehold
15 May 2023 8, Mill Road, Impington, Cambridge, Cambridgeshire CB24 9PE Semi-detached £575,000 Freehold
15 May 2023 424, March Road, Turves, Peterborough, Cambridgeshire PE7 2DW Semi-detached £165,000 Freehold
12 May 2023 22, Granta Terrace, Great Shelford, Cambridge, Cambridgeshire CB22 5DJ Terraced £525,000 Freehold
12 May 2023 161, Padholme Road, Peterborough, City Of Peterborough PE1 5JA Detached £240,000 Freehold
12 May 2023 3, Pattens Close, Whittlesey, Peterborough, Cambridgeshire PE7 1FA Semi-detached £260,000 Freehold
12 May 2023 291, Arbury Road, Cambridge, Cambridgeshire CB4 2JL Detached £575,000 Freehold
12 May 2023 9, Hartley Close, Waterbeach, Cambridge, Cambridgeshire CB25 9NG Semi-detached £288,000 Freehold

 

These sales illustrate the diversity of properties available in Cambridgeshire and the varying price points in the region.

**Conclusion**

Cambridgeshire’s property market has seen impressive growth over the last year, with detached properties leading the way in terms of popularity and price. As the region continues to attract residents and investors alike, it remains an area of interest for those looking to purchase a property. Whether you’re searching for a spacious detached house or a cozy terraced home, Cambridgeshire offers a range of options to suit different preferences and budgets.

 

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Trellows Property Market Update – Buckinghamshire July 2023

Trellows Property Market Update

Trellows Property Market Update – Buckinghamshire July 2023

**Introduction**

In the last year, Buckinghamshire has experienced a significant rise in property prices, reflecting a flourishing real estate market. This blog post will delve into the recent trends in house prices in Buckinghamshire, highlighting the average prices for various types of properties and examining the changes over the past years.

**Overview of House Prices**

Over the last year, the average price of properties in Buckinghamshire reached an impressive £506,845. This figure indicates a steady and robust real estate market in the region.

**Types of Properties and Their Average Prices**

1. Detached Properties:
Detached properties emerged as the most popular choice for buyers in Buckinghamshire during the last year. Their average price stood at £814,573, attracting those seeking spacious and independent living spaces.

2. Semi-Detached Properties:
Semi-detached properties were also in high demand, with an average selling price of £459,400. Offering a blend of privacy and community, these homes garnered considerable interest from buyers.

3. Terraced Properties:
Terraced properties, known for their charm and character, were sold at an average price of £383,653. These houses appealed to those looking for a cozy and connected living environment.

**Price Trends Over Time**

Comparing the recent data with historical figures, the house prices in Buckinghamshire have shown a remarkable growth trajectory. Over the last year, sold prices in the region have surged by 5%, demonstrating the resilience of the local property market. Moreover, these prices were 13% higher than the peak recorded in 2020 when the average price reached £448,197.

**Notable Sales**

Let’s take a look at some notable property sales in Buckinghamshire over the past month:

Date Sold Address Property Type Sold Price Tenure
23 May 2023 5, Borrowdale Avenue, Dunstable, Central Bedfordshire LU6 3PF 2 bed, semi-detached £385,000 Freehold
19 May 2023 9, Hazely, Tring, Hertfordshire HP23 5JH 4 bed, detached £380,000 Freehold
19 May 2023 17, Schuster Close, Cholsey, Wallingford, Oxfordshire OX10 9GY Terraced £457,000 Freehold
19 May 2023 16, Ripley Road, Broughton, Milton Keynes MK10 7BE Semi-Detached £355,000 Freehold
19 May 2023 24, Broom Hill, Cookham, Maidenhead, Windsor And Maidenhead SL6 9LW Semi-Detached £610,000 Freehold
19 May 2023 6, Cedar Court, 40, Oval Way, Gerrards Cross, Buckinghamshire SL9 8PD Flat £610,000 Leasehold
19 May 2023 778, South Seventh Street, Milton Keynes MK9 2PT 2 bed, terraced £230,000 Leasehold
19 May 2023 The Orchard, 45, Sixty Acres Road, Prestwood, Great Missenden, Buckinghamshire HP16 0PE Detached £1,200,000 Freehold
18 May 2023 9, Wick Road, Wigginton, Tring, Hertfordshire HP23 6EL 3 bed, semi-detached £620,000 Freehold
18 May 2023 41, Shelley Road, High Wycombe, Buckinghamshire HP11 2UW 3 bed, detached £565,000 Freehold
17 May 2023 Anthorn, Cannon Lane, Maidenhead, Windsor And Maidenhead SL6 3PH 4 bed, detached £650,000 Freehold
17 May 2023 19, Tyrrell Way, Towcester, West Northamptonshire NN12 7AS 3 bed, terraced £280,000 Freehold
17 May 2023 27, Glenwoods, Newport Pagnell, Milton Keynes MK16 0NA 2 bed, terraced £220,000 Freehold
16 May 2023 Flat 46, Panorama Apartments, 2, Harefield Road, Uxbridge, Greater London UB8 1GW Flat £295,000 Leasehold
16 May 2023 18, Copthall Lane, Chalfont St Peter, Gerrards Cross, Buckinghamshire SL9 0DB 3 bed, semi-detached £623,800 Freehold
16 May 2023 38b, Verney Walk, Aylesbury, Buckinghamshire HP21 8ED 2 bed, flat £160,000 Leasehold
16 May 2023 The Jays, Salmons Lane, Prestwood, Great Missenden, Buckinghamshire HP16 0PY 2 bed, detached £596,000 Freehold
16 May 2023 Flat 18, Moonstone Court, Dashwood Avenue, High Wycombe, Buckinghamshire HP12 3FG 2 bed, flat £235,000 Leasehold
15 May 2023 39, Engaine Drive, Shenley Church End, Milton Keynes MK5 6BA 3 bed, semi-detached £150,000 Leasehold
15 May 2023 5, Carnweather Court, Tattenhoe, Milton Keynes MK4 3DL 4 bed, detached £650,000 Freehold
15 May 2023 31, Fairway, Princes Risborough, Buckinghamshire HP27 9DH 3 bed, detached £600,000 Freehold
15 May 2023 Pinefield, Stony Lane, Little Kingshill, Great Missenden, Buckinghamshire HP16 0DS 4 bed, detached £1,100,000 Freehold
15 May 2023 191, Marlow Bottom, Marlow, Buckinghamshire SL7 3PL 4 bed, semi-detached £610,000 Freehold
15 May 2023 1, Bakery Mews, Great Missenden, Buckinghamshire HP16 0AQ 2 bed, detached £731,850 Freehold
15 May 2023 7a, Priory Avenue, High Wycombe, Buckinghamshire HP13 6SQ 1 bed, flat £210,000 Leasehold

**Conclusion**

The real estate market in Buckinghamshire has seen remarkable growth over the last year, with average house prices reaching £506,845. Detached properties, in particular, have been in high demand, commanding an average price of £814,573. The overall surge in property prices, which has outperformed previous years, signifies the region’s enduring appeal for homeowners and investors alike. As the market continues to evolve, Buckinghamshire remains a captivating destination for property seekers seeking a blend of tranquility and urban amenities.