Happy New Year everyone! We hope everyone had an enjoyable time over the festive period despite the circumstances.
As we mentioned in our blog on New Years Eve “What Is Happening In The Local Property Market As We Head Into 2021?” , despite the awful year we have had, it has actually had a positive change on the housing market so we thought we would give some more in-depth knowledge about the housing market in Daventry and surrounding villages over the last 12 months and a brief prediction of what is going to happen in the next 12 months.
These statistics have been taken from Dataloft: Inform which in turn, gets its information directly from Land Registry.
So, here are 7 important facts you’ll be interested to know about the Daventry property market:
1) Average property prices in Daventry District are up 18% from five years ago.
This is of course an average for Daventry District. If you want more specific information on your own property then feel give us a call – 01327 878926. This is quite a significant increase considering the prediction for 2021 is only an additional 1% for the whole year. This is a good sign for anyone looking to upsize OR downsize in the next 12 months as house prices will remain steady.
2) Daventry District has seen an increase in house prices for the first time in 12 months.
As you can see from the graph below, Daventry and the surrounding villages have seen a dramatic turn in house prices in November 2020, increasing by +1.18% compared to -3.59% seen in December 2019.
3) The average sale price in Daventry District was £258,523.
This includes the surrounding villages. Over the last 12 full months there have been 711 sales in Daventry – a dip of 38% on the previous 12 month period.
4) The average values of properties in Daventry District is £64,315 higher than the East Midlands average.
It is also £21,450 higher than the national average and why wouldn’t it be? We live in a fantastic area!
5) A total value of £177,890,205 worth of property was sold in Daventry District in the last 12 months.
£45.7m of these transactions were in the last three months. The highest value recorded by the Land Registry over the past 12 months was £275,000 for a flat and £2,300,000 for a house.
6) The average price of Terraced properties has increased the most in Daventry and the surrounding villages at +5.34%.
The average increase for a detached property was 0.39%, for semi-detached properties the average price dipped by 0.76% and for flats there was a dramatic fall of 6.14%.
This is a comparison from December 2019 to November 2020 compared to the 12 months previously.
7) What will the New Year bring?
Dataloft consensus house price forecast, based on the average from five leading commentators, expects 0.9% growth 2021.
Published forecasts for 2021 range from mildly negative to strongly positive. Rightmove forecast a 4% rise in 2021, Zoopla 1%, Knight Frank 1%, Savills 0% and JLL -1.5%.
2021 will be host to a lot of changes and deadlines which will no doubt impact transaction volumes and house prices. The stamp duty holiday deadline, changes to Help to Buy, potential changes to Capital Gains Tax, 2% surcharge for overseas purchasers and let’s not forget Covid-19 and Brexit.
Clearly it would be difficult to predict exactly what is going to happen in Daventry in the next 12 months but based on the positive outlook in November, it is certainly looking very positive for house prices in the area.
If you want a quick 60 second online valuation of your own property then CLICK HERE: https://www.campbell-online.co.uk/book-free-valuation/
If you have any questions about the property market or about your property more specifically then feel free to give our team in the office a call on 01327 878926.
Happy New Year and I look forward to seeing you around soon!
Take a look at my profile here: Jamie Campbell
You can also meet the rest of the team here: Meet The Team
Source: Dataloft, Knight Frank (September), JLL (November), Savills (September), Rightmove (December) and Zoopla (December)