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Wokingham Property Market Improved by 57.1% Over Pre-pandemic Levels! Has there ever been a better time for Wokingham home sellers?

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Wokingham Property Market Improved by 57.1% Over Pre-pandemic Levels! Has there ever been a better time for Wokingham home sellers?

The Wokingham property market, for people looking to sell, is at its sturdiest for at least the last five years with home buyers jumping onto the Wokingham property ladder with abandon.

Wokingham house prices are anticipated to rise throughout 2021 after the Stamp Duty cut (and subsequent extension until the autumn) and the newly revealed 95% mortgages for Wokingham first-time buyers (and Wokingham homeowners with minimal equity).

In addition, the continued low interest rates and the demand for larger homes because of lockdown means the Wokingham property market should remain bullish for a while. There is a surge in potential buyers putting themselves on mailing lists with Wokingham estate agents, making the biggest disparity between supply and demand for Wokingham property for many years.

Fears of a cliff edge for the Wokingham housing market at the end of March have dispersed, somewhat due to the Stamp Duty tax deadline extensions, but also because the elevated level of buyer demand caused by the three lockdowns has continued to swell since the start of 2021, meaning that today …

63% of Wokingham properties on the market are Sold (STC)

Interesting, when utilising data from website, the Wokingham average for the last five years has only been 40%, meaning there has been an uplift of 57.1% in the proportion of Wokingham properties sold (stc) compared to that five-year average.


Yet what can’t be forgotten is that 9 out of 20 Wokingham house sellers are also Wokingham house buyers as well, so whilst they do indeed achieve a higher price for their Wokingham property, they also have to pay more for the Wokingham property they want to buy.

So, how much will Wokingham house prices rise by?

Like all things in life, it’s all about demand and supply. I have discussed the demand, yet what about the supply of properties for sale?

There are 7% fewer Wokingham properties for sale today compared to 4 years ago

Whilst February saw a lower-than-normal level of new properties coming onto the Wokingham property market, the easing of lockdown roadmap and faster rollout of the vaccine is also persuading more Wokingham homeowners (especially those older Wokingham homeowners who have had their jabs) to start making the first steps towards moving home in 2021.

This will mean there will be more Wokingham properties available for sale in the conventionally busier post Easter market in the coming weeks and months which should cause more equilibrium and help keep Wokingham property prices in check.

These are interesting times for the Wokingham property market. If you are a Wokingham homeowner or Wokingham landlord looking to buy or let your Wokingham property in the coming weeks or months, don’t hesitate to drop me a line to discuss what all the points raised in article mean to you.