House Prices in Richmondshire
What is happening in the housing market? This is a question that people ponder frequently without really knowing the answer or where to find out.
In fact, you may find that some agents and property professionals are not really sure.
It is tricky to quantify the figures as there are so many variables. The average price is taken from all properties, including flats and lower value homes and investments. Really it is best to look at the average prices for each property type so that you can assess how the market affects you and your property, as well as the volume of sales within your property type.
So, we have put together some specific figures to show what has been happening to house prices in the Richmondshire region.
In August 2018 there were 35 sales registered in total with an average price of £264,497.
|
Detached
|
Semi Detached
|
Terraced
|
Flat/Maisonette
|
Total
|
|
15
|
10
|
10
|
0
|
35
|
|
£326,600
|
£206,140
|
£229,700
|
£0
|
£264,497
|
*figures taken from landregistry.data.gov 8th October 2018
You can see from the table that the majority of sales in August were of detached properties, showing that there is a good market for larger, family homes. Sadly, there were no flats sold in this month-perhaps there are fewer first time buyers and investor buyers in the market at the moment and there could be some bargains to be had!
The housing market in our area is generally very good, we are protected from the national ‘doom and gloom’ stories in some ways because of the tourist trade. People come and stay here in holiday cottages which boosts the sale of that style of property as they are usually a sound investment. It is a beautiful place to live and this encourages people to want to relocate here after working and living in busy cities. Also, the Army and RAF brings many people to our area only for them to settle here after their service.
Many News reports and press have shown recently that the housing market is in a sorry state and that things are not moving well. It is true that the London market is struggling a little as they can not sell for the previously over inflated prices. This could be due to a number of factors, mainly the lack of foreign money being invested into London property. Perhaps it was about time those prices had a correction!
Richmondshire is a relatively small area with a comparatively low population and there have still been 35 property sales completed within just 1 month.