What Properties Are In Demand.docx

Fri 03 Sep 2021

It is fair to say buyer demand has shifted at times in the past year or so, and at ADM Residential, we work hard to stay in touch with these changes. We know what is happening in the Huddersfield housing market, and we stay in touch with what is happening nationally.

At the peak of the lockdown period, demand for flats feel. This is understandable as people wanted more space and larger homes. However, in recent times, it appears as though flats are back in favour.

How is the Huddersfield housing market performing?

According to Rightmove, Huddersfield house prices are as follows:

“Properties in Huddersfield had an overall average price of £200,839 over the last year.

The majority of sales in Huddersfield during the last year were terraced properties, selling for an average price of £133,162. Semi-detached properties sold for an average of £179,337, with detached properties fetching £346,177.

Overall, sold prices in Huddersfield over the last year were 14% up on the previous year and 19% up on the 2018 peak of £169,242.”

Information provided by Rightmove suggests mass market homes have risen in price but there has been a slowdown in the market at the upper-end:

• Average price of property entering the market fell by 0.3% (a drop of £1,076)

• There was a 0.8% drop in the upper-end of the market, usually properties of four or more bedrooms

• Prices for newly listed two-bedroom properties rose by 0.6%, which equates to £1,328

• Prices for three-to-four-bedroom properties rose by 0.3%, a rise of £975

What homes are moving at the moment?

Tim Bannister, Rightmove’s Director of Property Data said; “New sellers dropping their asking prices can ring economy alarm bells, especially when it’s the first time so far this year, so it’s important to dig underneath the headline figures. Firstly, we are in the holiday season which means that sellers have traditionally tempted distracted buyers with lower prices, though that might well be less applicable this year with many buyers having to stay a lot closer to home. Indeed, our analysis shows that average prices have only fallen in the upper-end sector, which is usually more affected by seasonal factors such as the summer holidays and has also seen the greatest withdrawal of stamp duty incentives.”

Tim Bannister also said; “The mass-market of properties that cater for first-time buyers and second-steppers is still seeing high demand and upwards price pressure leading to new record high average prices in those sectors. In England there remains a smaller stamp duty saving of up to £2,500, though the window to take advantage of this saving by buying now and completing by the end of September is pretty much closed.”

For the opening week of August, according to Rightmove:

• Individual buyer enquiries to agents rose by 56% compared to the pre-Covid level of 2019

• Individual buyer enquiries to agents fell by 17% compared to the high-activity levels of 2020

• The number of agreed sales increased by 9% on the 2019 level

• The available stock for sale is at a record low level

The analysis of Rightmove suggests the likelihood of vendors connecting with buyers is at, or at least close to, a record high.

On average, it takes 36 days for a newly listed property to be sold subject to contract. This is a month faster than the February 2020 level.

Tim Bannister also said; “Sell before you buy is a successful tactic in fast-moving markets, especially the current one where any new listings popular in both specification and location are selling in days rather than weeks. Your own buyer will have to show a degree of patience while you wait for the right property to come to market, though the pedestrian speed of the normal legal process often creates the opportunity to play catch-up later if it takes a few weeks to find the right property. Some sellers are even completing their sale and going into intermediate rented accommodation and then buying, though this takes extra resolve and time.”

If you are selling your Huddersfield home, contact us today. You can book a valuation or just chat about how we make a difference in selling your home. Of all the estate agents Huddersfield vendors can call on, we like to think we make a difference in selling local homes, so contact ADM Residential today.