Trellows Market Update

Northamptonshire Property Market Update – July 2023 NN29

Exploring the Surging House Prices in NN29: A Year of Remarkable Growth**

*Introduction*

The real estate market in NN29 has witnessed an astonishing surge in house prices over the last year, leaving homeowners and potential buyers captivated by the region’s impressive growth. In this blog post, we will delve into the fascinating data on house prices in NN29, explore the types of properties that have dominated the market, and examine the factors contributing to this remarkable increase.

*The Magnificent Numbers*

The numbers don’t lie; the average house price in NN29 over the last year stood at an impressive £345,435. This represents a staggering 23% increase compared to the previous year and an even more remarkable 24% rise from the peak price of £277,822 in 2020. These soaring figures have undoubtedly caught the attention of both investors and potential homeowners, prompting many to wonder what might be driving this growth.

*Property Types in NN29*

To better understand the dynamics of the NN29 property market, it’s crucial to analyze the distribution of property types and their corresponding average prices. The majority of sales in NN29 were semi-detached properties, which commanded an average price of £303,384. Terraced properties, on the other hand, fetched an average of £237,257, while detached properties topped the list with an average price of £521,139.

Semi-detached properties seem to be the most sought-after, likely due to their attractive combination of space, privacy, and affordability. Detached properties, while the most expensive, offer unmatched luxury and often come with larger outdoor spaces. Terraced properties provide an attractive middle ground, making them appealing to those looking for a balance between budget and living space.

*Exploring Sold Properties*

In the last year, a total of 3,151 properties were sold in NN29. Let’s take a glimpse into some of the properties that changed hands and their selling prices:

Date Sold Address Property Type Price Freehold/Leasehold
12 May 2023 130, London Road, Bozeat, Wellingborough, NN29 7JR 3 bed, semi-detached £265,000 Freehold
20 Apr 2023 76, London Road, Bozeat, Wellingborough, NN29 7JR Terraced £150,000 Freehold
13 Apr 2023 17, Hinwick Road, Wollaston, Wellingborough, NN29 7QX Terraced £215,000 Freehold
6 Apr 2023 33, Saxon Rise, Irchester, Wellingborough, NN29 7AU 2 bed, semi-detached £240,000 Freehold
31 Mar 2023 24, Wollaston Road, Bozeat, Wellingborough, NN29 7LT 2 bed, terraced £233,000 Freehold
28 Mar 2023 1, Clayland Close, Bozeat, Wellingborough, NN29 7NT 3 bed, semi-detached £237,000 Freehold
27 Mar 2023 9, Warren Close, Irchester, Wellingborough, NN29 7HF 3 bed, semi-detached £205,000 Freehold
24 Mar 2023 13, Station Road, Irchester, Wellingborough, NN29 7EH 2 bed, terraced £169,000 Freehold
24 Mar 2023 18, James Street, Irchester, Wellingborough, NN29 7BL 3 bed, semi-detached £290,000 Freehold
20 Mar 2023 97, Hinwick Road, Wollaston, Wellingborough, NN29 7QY 2 bed, terraced £250,000 Freehold
17 Mar 2023 58, Mill Road, Bozeat, Wellingborough, NN29 7JA 3 bed, semi-detached £350,000 Freehold
17 Mar 2023 59, Queen Street, Bozeat, Wellingborough, NN29 7LA 2 bed, detached £290,000 Freehold
14 Mar 2023 4, Goodens Lane, Great Doddington, Wellingborough, NN29 7TY 4 bed, detached £575,000 Freehold
28 Feb 2023 110, Arkwright Road, Irchester, Wellingborough, NN29 7EF 3 bed, terraced £228,500 Freehold
27 Feb 2023 121, Wollaston Road, Irchester, Wellingborough, NN29 7DD 4 bed, detached £407,000 Freehold
23 Feb 2023 18, Howard Road, Wollaston, Wellingborough, NN29 7QZ 3 bed, terraced £258,000 Freehold
23 Feb 2023 7, Puddingbag Lane, Bozeat, Wellingborough, NN29 7LN 1 bed, terraced £180,000 Freehold
17 Feb 2023 157, Wollaston Road, Irchester, Wellingborough, NN29 7DD 3 bed, detached £375,000 Freehold
17 Feb 2023 89, Saxon Rise, Irchester, Wellingborough, NN29 7AU 3 bed, terraced £234,000 Freehold
17 Feb 2023 28, Wollaston Road, Irchester, Wellingborough, NN29 7DE 3 bed, semi-detached £305,000 Freehold
9 Feb 2023 119, Wollaston Road, Irchester, Wellingborough, NN29 7DD 3 bed, detached £380,000 Freehold
3 Feb 2023 38, Gipsy Lane, Irchester, Wellingborough, NN29 7DL 3 bed, detached £440,000 Freehold
2 Feb 2023 110, London Road, Bozeat, Wellingborough, NN29 7JR Detached £249,000 Freehold
1 Feb 2023 33, Duck End, Wollaston, Wellingborough, NN29 7SH 2 bed, terraced £188,000 Freehold
31 Jan 2023 182, Station Road, Irchester, Wellingborough, NN29 7EW Detached £695,000 Freehold

*Understanding the Growth*

The dramatic increase in NN29’s house prices can be attributed to several key factors. Firstly, the region’s attractiveness as a residential location has grown due to its proximity to major cities and employment centers. This has drawn in a considerable number of homebuyers seeking a balance between suburban tranquility and urban accessibility.

Additionally, limited housing supply has played a role in driving up prices. As demand increases, the scarcity of available properties puts upward pressure on prices, creating a competitive market for potential buyers.

Lastly, the economic climate and prevailing interest rates may have contributed to the spike in house prices. Low-interest rates tend to make mortgages more affordable, enticing buyers to invest in properties, further fueling demand.

*Conclusion*

NN29 has experienced a phenomenal surge in house prices over the past year, leaving investors and homebuyers in awe of the region’s remarkable growth. The popularity of semi-detached properties, along with limited housing supply and favorable economic conditions, have all contributed to the surge in property prices. As the market continues to evolve, it will be intriguing to see how these trends unfold and what lies ahead for NN29’s real estate landscape. Whether you’re a homeowner looking to sell or a prospective buyer, staying informed about market dynamics will undoubtedly be key to making informed decisions in this dynamic property market.

 

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