Spring traditionally sees a confident property market, with the lighter evenings, gardens blossoming and the promise of a summer move before the new school year brings many families that stimulates all areas of the marketplace.
The unsustainable pace of the market over the last two years was on track to slow to a more normal level, though the trajectory was accelerated by the reaction to Septembers mini budget.
With higher mortgage rates and economic challenges affecting some of the market, many of the potential home movers that were side-lined in hugely competitive marketplace since 2020 will find that a slower paced market with give them time to plan and secured their desired onward move as we enter a more positive marketplace in Spring.
And the figures from Q1 2023 are certainly showing there is a confidence again in buying property in the UK with news that the volume of Sold properties last week matches sales figures from early September 2022.
So if you are considering a move here are some details for the core postcode areas that Property Assistant operate in.
We'd love to help you move, don't hesitate to get in contact.
Daniel
March - Spotlight on Property Prices in your postcode.
Property prices rose by 22% over the last year in RG2.
The majority of sales in RG2 during the last year were apartments, selling for an average price of £243.398. Detached properties sold for an average of £705,482, with semi-detached fetching £446,918.
Recent reports confirm the majority price increase in the RG5 postcode was for terraced properties and the average sold price in the area was £485, 959, up 11% on last year.
Interestingly though Asking Prices have been falling in recent months, particularly among the larger 5+ bedroom homes and 1 bedroom properties.
Average House Price in RG6 now £504,119, up 14% from last year.
Recent sales figures show that the biggest increase in price was amongst terraced properties, while the most significant rise in listings was 2 – 4 bed family homes.
Properties in RG12 had an overall average price of £355,533 over the last year, the majority of sales in RG12 during the last year were Terraced properties, selling for an average price of £345,000. Flats sold for an average of £258,000 (an increase of 23%) with detached properties fetching £590,000.
However with prices now reducing, average sold prices in RG12 are 3% down than at the same time last year.
Property Prices in RG40 rose 8% in last 12 months but are things about to change?
If you live in a Detached property locally, recent Sold prices are up 10% over the past year with the average sale price now being £798,333 (up from £728,333).
Interestingly though Asking Prices have been falling in recent months.
Overall, Sold prices in RG41 over the last year were 4% up, with an overall average price of £474,667.
The majority of sales were apartments, selling for an average price of £259,000. Detached properties sold for an average of 634,000, with terraced properties fetching just under £400,000
Overall, Sold prices in RG42 were up 3% on the previous year, with the average price paid being £561,301.
The majority of sales were Terraced properties, Selling for an average price of £385,000. Detached properties sold for an average of 750,000, with semi-detached properties fetching £488,000.
Properties in RG45 had an overall average price of £632,955 over the last three months. The majority of sales during the last year were detached properties, selling for an average price of £730,000. Flats sold for an average of £246,250, with semi-detached properties fetching the biggest sales price increase at an average of £630,000.
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This property report was compiled from a range of online property data platforms that we use as part of our service for clients.
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