Your local property market. August 2018 – Semi-detached properties are in demand!
3rd September 2018
What’s been going on?
A question I am asked a number of times a week is “What’s the local property market like?”
As people are always keen to know, whether they are seriously thinking about moving or just want the opinion of someone who has their finger on the pulse and their ear to the ground, I hope to make these “Your local property market” type blogs a monthly thing. Hopefully they will give you an insight as to how the property market is performing in our neck of the woods.
All the following stats come from Rightmove from the 1st August to the 31st August 2018.
August 2018 – New property types
According to Rightmove the local property market (BD20 0, 6, 7, 8, 9 and BD22 0) in August was busy for new instructions. In total 87 new properties went up for sale (which is 9 more than last August). These new properties ranged from a 4700ft2 barn conversion on Skipton Road in Kildwick at £1,200,000 to an £85,000 one bedroom terrace cottage in Eastburn!
As a percentage, here’s how they are broken down in to property type:
As the above chart shows there were far fewer new semi-detached properties last month compared to detached properties and terraces. Interesting!
August 2018 – Sold property types
Rightmove stats show that 73 sales were agreed in August with a four bedroom barn conversion at an asking price of £470,000 in Sutton-in-Craven being one of the most expensive properties and a 2 bedroom corner terrace in Eastburn at £75,000 being one of the cheaper properties sold.
Here’s how they are broken down in to property type:
The Rightmove stats show that the property types most in demand in August were terraces and semi-detached properties. With detached properties just a little behind.
August 2018 – Available property types
So, we know what is coming to the market and we know what is selling the best. Let’s see what is currently for sale.
Terraces remain consistent across the board with similar percentages of new, sold and available properties. Detached properties are tending to struggle more, simply because they generally need a semi-detached to sell so that seller can move up the property ladder to the detached homes. The knock on effects can take a while to catch up. With a higher percentage of semi-detached properties been agreed last month perhaps detached properties will be more in demand in September.
What is most interesting through when looking at the figures is that semi-detached properties were the most sought after type of property in August yet they make up the lowest percentage of new properties and the lowest percentage of available properties for sale.
Supply & Demand
Every business works on levels of supply and demand. If supply is low and demand is high then you can command a premium for your product, in this case semi-detached properties. The stats show that this is a great time for those thinking of selling a semi-detached property to do so.
It’s a big step to move up the property ladder and a lot of people might not think they can afford the jump. If that’s what you’re thinking then why not have a chat with our recommended mortgage adviser Claire? She lives local and can attend appointments to suit. If you are thinking about moving but aren’t sure if you can afford to then I’d recommend you speak to Claire, and have your property valued by myself of course!
Feel free to give the office a call anytime on 01535 666031 and we’ll be happy to have a chat. Don’t forget we’re available from 8am until 8pm 7 days a week!
What’s been going up?
We’ve had a busy opening month with another 7 properties coming to the market since the last blog. That brought our total up to 12 for August with the first September property going live last Saturday. Click on the externals below for further information.
Oldfield Lane, Oldfield
Scar View, Cowling
High Pastures, Keighley
Longwood Avenue, Bingley
Westburn Crescent, Keighley
Crofters Mill, Sutton-in-Craven
Greenfield Place, Glusburn
What’s coming up?
We have instructions to market another 5 properties which will be going live later this month. These include a spacious ground floor apartment and a three bedroom terrace in Silsden, a terrace property in Cross Hills, an end townhouse in Glusburn and a detached property in Riddlesden. Watch this space!
One last thing…..
There’s no doubt that September has always been a great month to market your property. Kids are back at school and settled for another year, normality resumes and there are 4 months until Christmas, plenty of time to get the house up for sale and be in a new home come December! If you are thinking of selling or know anyone that is then put them my way and they can take advantage of our £995 offer that will run throughout this month.
Thanks for reading.