How are your summer holidays progressing? We hope you’re enjoying yourselves and coping with the inevitable juggling act the kids off school presents.
The property market continues strong with our team busy helping Warrington move. The summer holidays are a great time to move home because it means you’ll be fully settled into your new place by the next school holidays, also known as Christmas time. The post-pandemic delays in sorting the paperwork once an offer has been accepted means you really need to factor a little longer into your home-move timeframe.
Let’s have a brief look at what’s been happening over the last month in the local Warrington property market.
There are currently 283 properties available for sale in Warrington. This is 8 more than last month. Of these 283, 59 were new to the market in the last two weeks. The average price of properties in Warrington is £257,282 with the median price at £230,000.
Most of the properties available are in the £100,000 to £200,000 bracket with 94 currently on the market. There are 18 properties available, in the £500,000 to £1 million bracket. In May, properties in the £500,000 to £1,000,000 bracket were selling the fastest, only on the market for an average of 33 days. They are still the fastest but the length of time was extended to 49 days in June and that increased to 58 days in July. This month, properties priced between £300,000 and £400,000 are the second-fastest movers, only on the market for 65 days.
Properties priced at £100,000 and under, are now taking 374 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 389 days. This has gone up from 326 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 £250,274. Terraced properties sold for an average of £180,622, with detached properties fetching £417,670.
Overall, sold prices in Warrington over the last year were 2% down on the previous year and 12% up on the 2019 peak of £229,734. When considering the facts presented in this way, the talk of an impending property crash can be explained as media sensationalism. There is cooling in the market prices but after the last couple of years, this is to be expected.
Babies are still being born, families' needs will continue to change, people will pass away, and others will get married or the opposite. Whatever happens with the cost of living and other external forces, the property market continues to rumble on. People often have to move home, rather than choose to. Don’t worry too much about the scaremongering and instead, focus on your needs and the needs of the people you’re closest to.
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
