Telford Property Market Improved by 67% Over Pre-pandemic Levels

Telford Property Market Improved by 67% Over Pre-pandemic Levels

Has there ever been a better time for Telford home sellers?

The Telford property market, for people looking to sell, is at its sturdiest for at least the last five years with home buyers jumping onto the Telford property ladder with abandon.

Telford house prices are anticipated to rise throughout 2021 after the Stamp Duty cut (and subsequent extension until the autumn) and the newly revealed 95% mortgages for Telford first-time buyers (and Telford homeowners with minimal equity).

Also, the continued low-interest rates and the demand for larger homes because of lockdown means the Telford property market should remain bullish for a while. There is a surge in potential buyers putting themselves on mailing lists with Telford estate agents, making the biggest disparity between supply and demand for Telford property for many years.

Fears of a cliff edge for the Telford housing market at the end of March have dispersed, somewhat due to the Stamp Duty tax deadline extensions, but also because the elevated level of buyer demand caused by the three lockdowns has continued to swell since the start of 2021, meaning that today …

69% of Telford properties on the market are Sold (STC)

Interesting, when utilising data from theadvisory.co.uk website, the Telford average for the last five years has only been 41%, meaning there has been an uplift of 67% in the proportion of Telford properties sold (STC) compared to that five-year average.

Yet what can’t be forgotten is that 9 out of 20 Telford house sellers are Telford house buyers as well, so whilst they do indeed achieve a higher price for their Telford property, they also have to pay more for the Telford property they want to buy.

So, how much will Telford house prices rise?

Like all things in life, it’s all about demand and supply. I have discussed the demand, yet what about the supply of properties for sale?

There are 67% fewer Telford properties for sale today compared to 6 years ago

Whilst February saw a lower-than-normal level of new properties coming onto the Telford property market, the easing of lockdown roadmap and faster rollout of the vaccine is also persuading more Telford homeowners (especially those older Telford homeowners who have had their jabs) to start making the first steps towards moving home in 2021.

This will mean there will be more Telford properties available for sale in the conventionally busier post-Easter market in the coming weeks and months which should cause more equilibrium and help keep Telford property prices in check.