James Du Pavey estate agents have shared their latest reports about the local housing market where demand continues to drive up prices.
Writing their quarterly report the estate agent with local offices in Stone, Eccleshall and Nantwich said:
“We like to think of ourselves as our community’s local property resource and keep a sharp eye on the housing market. Each quarter we prepare a full regional housing report, which you can see in the links below.
In short, the market is still moving with demand outstripping supply and encouraging buyers to act quickly when making a decision on their purchase. House prices are up by 13.2% comparing Data from June 2020 to June 2021 and mortgage lending is up with the approval rate increasing by 98% in the same period. Good news really as so many people are keen to get going with sales still increasing 4.2% measuring from the boom in activity in July 2020 when the market reopened post-Lockdown.
Locally things are also looking healthy with Cheshire east having a property turnover of 4.8%, the highest in the north west, with an average house price of £266,439! Stafford is close behind, with nearly 4% of houses swapping hands, averaging £237,784.
Looking forward, these figures are set to increase with an estimation of 1.5 million transactions to complete by the end of the year, keeping mortgage lending up and steadying the house prices across the region. The Stamp Duty exemption for homes worth up to £250,000 ends this month but factors such as the government’s 95% lending scheme and general consumer confidence increasing there are no signs of this market slowing. It really is the best time to make that move.”
You can read the full regional housing market updates below –
West Mids – https://pageturner.guildproperty.co.uk/jamesdupaveyautumnregionalreport-westmids
North West – https://pageturner.guildproperty.co.uk/jamesdupaveyautumnregionalreport-northwest
For more information on James Du Pavey Estate Agents, you can visit their website at – JamesDuPavey.co.uk
