Market Reports
August 29, 2024
Regional Property Market Update Winter 2021: North West and North Wales
Sales remain brisk as demand continues
The market is busier than in any year since 2007. In the first nine months of 2021, HMRC estimate that more than 1.2 million homes changed hands, 47% higher than the long-term UK average (2010–2019) and just 50,000 fewer than the same period in 2007. On average, there is now only 2.2 months’ worth of stock available in the UK, compared to four months’ stock in 2019 (TwentyCi).
Cheshire East is the most active housing market in the North West and North Wales, seeing more than one in every 20 homes changing hands over the past year. The average annual rate of stock turnover in the area as a whole is 4.0%.
On the up
The average price of a property has increased significantly during the past year, many localities experiencing double-digit annual price growth. Agents anticipate price growth will moderate over the coming months to more sustainable levels, with predicted growth of 4.0% in the North West and 3.0% in Wales during 2022 (Zoopla). According to Dataloft, the annual increase in the average property price in the North West is £21,500, with the average property price in Wales up by £21,600.
Keeping warm
COP26 focused attention on the environment and energy efficiency. An Energy Performance Certificate (EPC) is needed whenever a property is built, sold, or rented. While 90% of new build properties achieve the highest A or B rating, just 1 in 14 resale properties currently reach that grade, although 60% could with improvements. Upgrading could prove lucrative; resale properties rated A/B currently attract a 13% price premium (based on £psf), compared to those properties with the average D rating1.
Properties for sale in the North West and North Wales regions of the UK
This wonderful five-bedroom detached home occupies a beautiful semi-rural position within the sought-after district of Littleborough. The property stands on a stunning private gated plot, with extensive gardens, a sweeping driveway providing ample parking and a large double integral garage. On the doorstep of picturesque open countryside, the property is also only minutes away from the village centre, with ample amenities, schools and excellent rail links to Leeds and Manchester.
This beautiful detached home is situated on the highly desirable Greenhills development in Feniscowles, Blackburn. Perfectly presented for family living, this home comprises an open-plan dining-kitchen with beautiful grey units, a spacious lounge with patio doors and a ground-floor WC and utility room. To the first floor, there is a spacious landing giving access to four bedrooms, one with an en-suite shower room, and a family bathroom.
Towering over the top of Deganwy is the iconic Vardre, one of the many breath-taking spectacles along the North Wales coastline. At the base of this iconic landmark is Sunny Mead, a traditional-style Edwardian masterpiece, offering a quiet haven within one of the most highly sought-after locations in the Conwy area. From the beautifully landscaped garden - both at the front and rear- to the spacious and versatile accommodation internally, there is a lot to like about this stylish, classical property.
Contact us
As property prices continue to rise and the UK hits a record number of sales for autumn, sell your property with experts in the property industry this winter. Contact your local Guild Member today.
