Mon 22 Feb 2021
Three-to-four-bedroom family homes slightly out of Leamington town centre have seen the biggest price rises over the past year according to ehB Residential.
Mid-market semis are the most sought-after properties, with supply falling way short of demand, says the agency.
The news comes as the Office for National Statistics reveals prices rose across the UK by 8.5% on average during 2020. The West Midlands region rose by around 9%, compared with London, whose growth was just 3.5%.
And demand for such properties is still strong despite the imminent end of the stamp duty holiday next month.
ehB Residential office manager Clive Thompson said that, while demand for houses in the million-pound bracket has been phenomenal, the biggest price growth has been seen in the mid-market.
“It's in the £325,000 to £550,000 area that we’re seeing the biggest growth. Demand is incredibly strong. In fact, we can't get enough of these houses. Those which, for example would have sold a year ago for £350,000 are going for £380,000 now. The homes formerly in the £380,000s are now selling for £415,000 plus. First time sellers are moving into their first family home and those upgrading from a standard three-bedroom semi are looking at an extended three-bedroom or a four-bedroom alternative.
“In terms of location the ones selling really well are semis and detached houses slightly out of the town centre in areas such as Lillington, Whitnash and Cubbington, Victorian and Regency properties in the £400,000 to £800,000 bracket in Milverton and established town centre locations.”
One factor behind price rises in this sector is the traditional issue of supply and demand.
“With so many people working from home and space needed for children to be home-schooled, there is huge demand for houses which will comfortably accommodate all family members. This means that for those who own such properties and are looking to move, now is a good time to sell. There are simply too few to go around and with demand so high it’s likely to achieve a healthy price.”
"It has truly been a pleasure dealing with your colleagues who assisted in our purchase of 23 Beverley Road and the sale of 39 Brookhurst Road. This customer experience (including when we purchased 39 Brookhurst Court last year) has undoubtedly given us the confidence to approach eHB for our future real estate needs. We would like to express our sincere gratitude to Clive, Juliana, Chris and Louise. They were polite and courteous and we were very pleased with the level of professionalism and strong work ethic that they demonstrated at all times. In our experience, we found eHB working to a very high standard of customer care and this, we believe, is the key differentiator that must be maintained by successful companies in a competitive market. Clive, Juliana and Chris invested time in learning about our particular needs and they impressed us with their strong dedication to customer service. Their relaxed and informative style gave us the confidence that our sale and purchases were in safe hands from the outset and, of course, we are totally happy with the outcomes. In particular, they were diligent and meticulous in their approach and we found this to be very reassuring indeed. Your colleagues did an excellent job. We would be grateful if you could convey our heartfelt thanks and appreciation to Clive, Juliana, Chris and Louise. Well done! Kind regards Mushy & Laraine "