Every now and then we think it’s nice to give you an update on the local housing market.
It is fair to say that things are starting to change. The Daventry Housing Market is certainly starting to slow down but there is no need to panic (certainly not as much as the media would have you believe).
So here are a couple of facts that you should find interesting…
As of June 2022 (the latest index report as of August 2022) the average sales price in Daventry was £255,073. This has increased from £239,077 which was the ‘pre-pandemic level’ in December 2019. It is, however, lower than the peak that the Daventry market hit in February this year (2022) which was £259,369.
These are the tell-tale signs that the housing market may be starting to slow down – but not by much). We are now entering a phase of the housing market that we would consider “stable and normal”.
7% of sales in the past 12 months were flats, achieving an average sales price of £123,218. 93% of all sales were houses, achieving an average price of £269,577.
Purely for your interest, the highest value recorded by the Land Registry over the past 12 months was £235,000 for a flat and £2,640,000 for a house.
Detached houses in Daventry are selling £73,244 higher than the East Midlands average (£22,784 below the national average). Detached houses in Daventry have increased by approximately 7.79% in the last 12 months (approximately £28,000).
Semi-detached properties sell for £56,125 more in Daventry than the East Midlands average (£10,2016 below the national average). Semi-detached houses in Daventry have increased by approximately 7.67% in the last 12 months (approximately £18,000).
Interestingly, flats and apartments in Daventry sell for the same price as the regional average and £87,686 below the national average. Possibly showing signs of a maturing town with young families looking for bigger homes.
However, flats in Daventry have increased, on average, by 6.05% in the last 12 months (approximately £7,000).
A slowing market?
There are now less property transactions going through with us seeing a decline in Daventry for 3 months in a row now.
This doesn’t necessarily mean the market is going quiet. It is more likely due to the slow transaction time due to delays that solicitors are currently facing.
Find out more about that here: campbell-online.co.uk/unfortunately-it-is-true-it-is-taking-longer-for-people-to-move-in-daventry-and-the-surrounding-villages/
It is important to remember of course that these statistics are just averages and actual property market trends can change from street to street.
You can click the links below to either get a market report for your street or you can get a free online valuation for your property in 60 seconds.
Soure: Dataloft. Information is based on June 2022 (the latest property index, as it runs two months behind)
