The latest figures are in for the Nock Deighton House Price Index:
- Monthly increase in January of 0.32%
- Year-on-year rise of 4.35%
This small monthly increase in house prices in Shropshire, Worcestershire and Herefordshire fits in with our prediction for a steady market during 2017.
Michael Nettleton, sales and marketing director at Nock Deighton, says: “Steady, gradual increases in prices are an indication of a well-performing market, so this is a great start to the year.
“Last month, we spoke about how some national commentators were predicting a tough year, but national figures are heavily skewed by the London market.
“What these early figures show us is that buyers and sellers can have confidence that the housing market in Shropshire and Worcestershire is on a steady course.”
For more information and advice about buying or selling a house, give the Nock Deighton team a call on 01746 767 767.
What has your house price done in 2016?
In general terms, house prices in Shropshire “stayed steady” during 2016, which indicates a healthy housing market, according to analysts here at Nock Deighton estate agents.
We produce a monthly House Price Index report based on our own figures and a selection of national statistics.
Michael Nettleton, director of sales and marketing at Nock Deighton, has looked back over the figures and calculated that the average monthly rise throughout 2016 was 0.2%.
He says: “The fact that house prices stayed steady is good news for the market as a whole, because we do not want to see a return to the days of boom and bust.
“A very steady rise of 0.2% as a monthly average is encouraging and bodes well for a good 2017.
“The year-on-year increase when you take all 12 months in total is 4.9%, so prices have seen quite a significant rise overall.
“Houses are exchanging, and as I say every month, buyers are out there just waiting for the right property to come along - it is a healthy market for both buying and selling, and long may it continue.”
House prices have continued their steady rise in Shropshire, according to the latest figures from analysts here at Nock Deighton.
We produce a monthly House Price Index to track how the housing market is performing, and the latest figures show a monthly increase of 0.8%, and an annual rise of 5.6%.
Sales and marketing director at Nock Deighton estate agents, Michael Nettleton, said: “It seems a fitting way to round off this year’s reports with another steady rise in house prices.
“The prevailing theme throughout 2016 has been consistent gradual increases, which is evidence of a fairly balanced market.
“However, the other recurring message has been a lack of new housing coming on to the market, and that is still very much the case as we close in on 2017.
“What that means is that it is still a good market if you are thinking of selling your house, because the demand is very much there.”
For more information about selling your house in Shropshire, contact the sales team on 01746 767 767.
The impact that the EU referendum decision will have on house prices and the economy in general has dominated the media in recent times.
The general consensus on a national scale has been that leaving the European Union will have a negative effect on house prices - but Michael Nettleton, director of Nock Deighton estate agents, has a different view.
Michael says that house prices in Telford in particular could actually become more sustainable as a result of the vote.
As he explains: “The referendum vote will ultimately have a sustained positive effect on house prices in Telford and the housing market at large. Depending on your politics, you may raise an eyebrow at this point, but let’s just have a look at some key economic ideas and data to see why this may be the case.
“Plucked from obscurity and made a posthumous star during the 2008 financial crisis, a little-known economist named Hyman Mynsky held the hypothesis that risk-taking during the boom times ultimately sows the seeds for greater instability during a recession.
“This is a repeating cycle of boom and bust we have seen over and over again with monotonous regularity for generations. Regardless of your politics, the economic shock of the Brexit vote may have done the Telford housing market a favour - which is good news if you want to sell a house in Telford, or indeed if you are looking to buy.
“Inflation is imperative for the health of the economy, but just like Goldilocks, it’s a case of not too hot, not too cold, we want it to be just right!
“With the Bank of England targeting an inflation rate of 2%, Telford house prices have massively outperformed this figure with an average rise of 4.15% in the last 12 months.
“That might sound great in principle, but let’s just think about how this would affect the the average Telford homeowner in practice.
“The average house price in Telford is currently £146,904. Let’s assume the plan over the next year for a typical homeowner is to move to a £300,000 house in Priorslee.
“If both properties have increased in price by 4.15% over that period, the differential between the two properties would have potentially grown by over £6,000.
“This would increase the amount of borrowing required for the buyer, and also limit the pool of buyers with the necessary funds for the estate agents in Telford to target.
“When moving house, while the house price is an important factor, the differential and ultimate cost of moving is actually the most crucial calculation.
“If Brexit has managed to give people a moment to take stock and temper the boom, we can have steady and sustained house price growth for a much longer period.
“I'm not sure if Mr Mynsky or Goldilocks would have much else in common, but I think we would be confident they would both agree that 'just right' is what is best for Telford.”
House prices have steadily increased in Shropshire since the spring, according to figures compiled by the analysts here Nock Deighton.
The figures from our monthly House Price Indexes, based on our own figures and a cross-section of industry reports, have shown an increase in house prices every month since March up to the last report in June.
Michael Nettleton, director of sales and marketing at Nock Deighton, says the steady increase is mostly down to a lack of supply.
“We have seen a strong market throughout the first half of 2016 with demand outstripping supply,” he says. “According to our figures, house prices have risen by an average of 0.5 per cent each month since March, which shows the market is in a pretty good state.
“Summer is always a busy time for house sales so we are predicting that prices will continue to rise over the summer months.”
The rate of house price rises in Shropshire has accelerated in the past month, according to our House Price Index produced by analysts here at Nock Deighton.
The most recent figures show that house prices increased by 1.5% last month, with a significant rise of 5.9% compared to this time last year.
Michael Nettleton, director of sales and marketing at Nock Deighton, said: “We are still seeing a strong market with demand outstripping supply. With the prime summer months ahead of us, it’s an exciting time for house sales in the area.”
Nock Deighton’s Head of Country Homes, Ross D’Aniello, has many years of experience specialising in country, village, equestrian and rural property.
He’ll be sharing his experience and knowledge on the Nock Deighton blog, looking is at various aspects of the property market and the sales process. Here, he gives us an update on the current state of the market.
The property market has seen a marked increase in activity since the beginning of the year. Various unrelated events such as elections, referendums and Stamp Duty Land Tax changes inevitably have an impact, but it is fair to say that there has been an increase in properties coming to the market, viewings and sales.
We are seeing properties achieve realistic prices and a number of agents are seeing levels of interest not seen for nearly a decade.
Traditionally the market peaks in spring and autumn, however we are seeing a constant stream of both sellers and buyers getting in touch which can only bode well for the year to come. Confidence, despite the uncertainty of the referendum, will hopefully continue.
The average asking price for England and Wales jumped a further 0.8% since May with stock of levels edging up further, but still 10.6% less than in May last year. There are still low levels of quality stock which benefits the seller so now is the time to seek advice if you are considering selling.
Please contact our offices for further free advice on 01584 875 555.
Ever-increasing house prices have slowed slightly in Shropshire, but a lack of new properties coming onto the market is still driving prices up.
That’s the view of analysts at Nock Deighton estate agents, who compile a monthly house price index based on a cross-section of market reports and their own statistics.
The latest figures show that house prices in Shropshire rose by 0.1 per cent over the past month, with an annual increase of 3.5 per cent.
Michael Nettleton, director of sales and marketing at Nock Deighton, said: “Although the figures indicate a slight slowing down of house prices, demand is still extremely high.
“Our figures show an average sold price of £238,971 for the last month which corresponds with the generally buoyant market.
“It’s been the same story for most of this year - a shortage of stock is still the main issue so houses which are priced correctly are selling very quickly.”
House prices in Shropshire are back on the rise according to figures compiled by analysts here at Nock Deighton.
Our monthly House Price Index report has seen a slight decrease over the past three months, although prices have been consistently higher compared to the previous year.
The latest report, which is based on Nock Deighton’s own statistics and a selection of national reports, shows a monthly increase of 1.3 per cent and an annual increase of 3.5 per cent.
Michael Nettleton, director of sales and marketing at Nock Deighton, said there was still a shortage of homes for sale which was the main reason for prices going up.
“We have been saying the same thing for the past couple of months now,” he said. “The stock shortage is seeing a predominantly balanced market, but it is still favouring buyers who have realistic expectations.
“The growth in prices reflects this and with spring well under way, it’s a great time to put your house on the market.”
House prices are continuing to rise in Shropshire, with about 15 per cent fewer homes on the market than this time last year, according to industry figures.
The agents here at Nock Deighton compile a monthly house price report, and the latest figures show a yearly increase of 2.75 per cent with an average sold price of £263,138.
Michael Nettleton, director of sales and marketing at Nock Deighton, said a shortage of houses coming onto the market was pushing prices up compared to this time last year.
He said: “Our house price index shows a small monthly decrease of 1.2 per cent for February, but year-on-year prices have continued to rise. The availability of stock is the key issue, with industry sources suggesting there are around 15 per cent fewer houses on the market at present compared to last year.
“That’s good news if you are looking to sell, because prices are good and there are plenty of buyers. In simple terms, a shortage of supply and surplus of demand suggests a strong year ahead for positive house prices.”
The Nock Deighton House Price Index report is based on our own statistics and a selection of national reports, and is produced every month.
Latest house price figures show a “strong and stable” property market in Shropshire, according to the industry experts at Nock Deighton estate agents.
We compile a house price index every month, based on industry statistics and our own reports, and the latest report shows an annual increase of 4.5 per cent for January.
Michael Nettleton, sales and marketing director at Nock Deighton, said January’s figures showed a month-on-month decrease of 0.4 per cent, with an average sale price in Shropshire for the past 12 months of £246,518.
He said the overall outlook was very positive.
“The annual rise shows a strong and stable market giving us a bullish outlook for the year ahead,” Mr Nettleton said.
“Supply of stock is the real issue in the market, and now is a great time to consider selling, as the imbalance between supply and demand suggests strong sale prices will be achieved in 2016.”
Property experts here at Nock Deighton estate agents in Shropshire are predicting a busy start to the year in the housing market as demand continues to outstrip supply.
The selling team compiles a monthly house price index based on Nock Deighton's own figures and industry reports.
Michael Nettleton, sales and marketing director, said the most recent report showed a small monthly decrease of 0.4 per cent in December - although year-on-year prices showed a 3.6 per cent rise.
Nock Deighton’s average sale price in Shropshire for the past 12 months was £245,036 and Mr Nettleton said the future was bright.
“The small monthly decrease in December’s report was counter-intuitive to our current experience of the market in the build up to Christmas,” he said.
“Although volumes of instructions tend to wind down over the Christmas period, sales activity is still very strong, with a shortage of supply being the real issue in the market as a whole.
“With the pent up demand for property, we are predicting a very strong market for the new year.”
Are house prices going up or down? Depending on what newspaper you read on which day, you’ll read a different figure.
Different organisations give varying figures - the Land Registry uses the average price houses have sold for, whereas others like Rightmove use an average of the asking price of all the properties on the market.
As a landlord or someone looking to selling your house, the state of the property market is important to you, so what figures should you believe?
At Nock Deighton, we have over 180 years of experience dealing with property in the Shropshire area and have seen prices rise and fall, so we thought we would use that knowledge to produce our own house price updates.
Our property management team look after more than £100 million worth of property across Shropshire & Worcestershire, and we currently have around £140 million worth of property for sale - so we have a pretty good insight into how the market is moving.
Our house price index will look at a cross-section of the figures out there and combine them with our own statistics to produce an accurate snapshot of what the property market is doing here in Shropshire.
The reports will be clear and simple, using graphics to make them easy to digest quickly - we know you’re too busy to wade your way through reams of facts and figures.
New figures which show a steady increase in house prices across the UK have been welcomed by directors at Shropshire estate agents Nock Deighton.
Nationwide building society has just released its latest survey on house prices, and the headline figure is that house price growth has fallen to a two-year low.
The national figures show that house prices rose by 3.3% in the second quarter of this financial year compared to 11.8% a year ago.
Here in Shropshire, the figures show the average price of a property is currently £187,451 - a rise of 3% compared to 8% last year.
Michael Nettleton, director at Nock Deighton estate agents, said: “These figures reflect that Shropshire is a consistent and robust market, which is a good thing for buyers and vendors.
“House prices may not boom like some areas, but on the flip side, it doesn’t go bust either.
“From our point of view - and indeed for the long-term interests of everyone buying or selling property in Shropshire - solid, sustainable growth in a balanced market is preferable, and that’s what we are seeing.
“This steady increase in house prices, along with a new government which is traditionally favourable to a strong housing market, makes the future look very bright.”
Nock Deighton is one of the longest-established estate agents in Shropshire, with offices in Shrewsbury, Telford, Bridgnorth, Ludlow, Cleobury Mortimer, Newport and Kidderminster.
The company a full range of services, including lettings and commercial property management, as well as a comprehensive buy-to-let service for investors.