August has been a month of extremes: a heat wave, first holidays abroad in two years, and constant talk of the cost of living increases. This is causing widespread worry, which is an uncomfortable feeling for many.
It’s also causing people to reassess their lifestyles and make changes where they’re able. Many people are considering downsizing in order to reduce their bills or release equity. The property market continues to move, as it always will, with families growing, people passing away, and moving jobs.
Let’s have a brief look at what’s been happening over the last month in the local Warrington property market.
There are currently 331 properties available for sale in Warrington. This is 48 more than last month. Of these 331, 67 were new to the market in the last two weeks. The average price of properties in Warrington is £254,573 with the median price at £210,000.
Most of the properties available are in the £100,000 to £200,000 bracket with 122 currently on the market. There are 24 properties available, in the £500,000 to £1 million bracket. This month, properties in the £400,000 to £500,000 bracket are the fastest movers, only on the market for 71 days. They are closely followed by properties in the £500,000 to £1 million bracket which only remain on the market for 75 days.
Properties priced at £100,000 and under, are now taking 307 days to sell. This is similar to one-bedroom properties with a median price of £90,000 as they are currently sitting on the market for an average of 337 days. This has gone down from 397 days last month.
This is another example of how selling property can take longer than people often imagine. If you’re looking to upsize from your first home, or are an investor looking to change your portfolio, please bear this in mind when planning.
Let’s take a look at the annual figures now.
The majority of sales in Warrington during the last year were semi-detached properties, selling for an average price of £256,092. Terraced properties sold for an average of £203,922, with detached properties fetching £431,100.
Overall, sold prices in Warrington over the last year were 2% up on the previous year and 16% up on the 2019 peak of £229,734.
This shows the high levels of activity in the local Warrington property market, which are likely to increase or at the very least, remain strong in the final quarter of the year. There is a lot of demand and plenty of people looking to move around Warrington.
If you’re thinking of selling your property, feel free to contact us. If you’re thinking of buying, letting or renting a Warrington property, please don’t hesitate to get in touch. You can call 01925 235 338 or email staff@hamletwarrington.co.uk.
01925 235 338
staff@hamletwarrington.co.uk
