There is evidence that in the three months to April 2017 house prices fell by 0.2% - the first quarterly fall since November 2012. Halifax stated that prices fell by 0.1% over the past month alone. However, for the year to April, prices actually rose by 3.8% across the UK, the same increase as in March, with statistics in the area local to Waterfords looking highly promising.
Local property statistics show a strong upward trend year on year with property price growth in the Waterfords area being 10% higher than in April 2016. In fact, prices have grown by an impressive 40% in the previous five years along the Hampshire, Surrey and Berkshire borders.
Local homeowners should be confident about marketing their property as prices are still up on the same period last year and are set to continue climbing for the foreseeable future. However, elections often cause uncertainty in the market and it remains to be seen what effect the run-up to the snap election will have on sales over the rest of the spring period.
Availability of homes to buy in the UK in March was at its lowest level since records began in 2002 according to NAEA. However, this low supply continues to fuel house price growth in the Waterfords area causing a supply and demand crisis both locally and nationally.
The average price of property coming to the market in the Waterfords area stands at £399,448 compared to the national average of £313,655. Rightmove report that strong buyer activity across much of the country has led to the number of sales agreed reaching its highest level at this time of year since 2007. Buyer demand is strong across the South East as a whole, and with London prices slowing Waterfords have noticed an increase in London homeowners capitalising on their investments and moving out of the city to the commuter belt.
Given the blossoming local property market and continued strong demand from buyers, now is the perfect time to ask your Waterfords property expert for a free, no obligation market appraisal. Whether you’re just curious or actually planning to move, contact us and we will be more than happy to advise on local market conditions. Our advice is free and without obligation.
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