Thinking of Selling? Here’s what’s happening right now in the Flintshire Property Market
Here Ben gives you the lowdown on the local current market conditions and predictions for 2022.
We have had a record breaking year so far! Compared to our previous record year we’re on course to double the amount of sold properties! The market is a huge factor in this don’t get me wrong but we have put some very clever marketing software in place over the last couple of years which is now really starting to pay dividends!
So firstly let me recap on what’s happened so far in 2021. The back end of 2020 and beginning of 2021 we still had some degree of covid lockdowns and although we could still operate it was very restricted. As we started to come out of the winter and restrictions started to lift we started to see a massive surge in January, February and then March it absolutely rocketed – in March alone we sold 29 properties! As demand increased prices also started to go off the scale. Then I started to see a slight drop off from April onwards – It was still incredibly busy and prices were still rising but not at the rate we seen at the beginning of the year. It all depends on the area and property type but across the board in Flintshire in the last year prices have risen by around 10 -12% - believe me this is an enormous rise. We usually see on an average year around 3% rises.
As things stand right now everything we are putting on the market is selling. Some take a little longer than others but due to the introduction of our heads up property alerts earlier this year we sell most properties within the first week or two! Usually we ask an offers over asking price then try to create a situation where buyers are in competition with each other to drive up the price. I realise this is not always nice for buyers but our client is the seller and we have a duty to bring them a good buyer and achieve the highest possible price for the property.
My only recent concern has been some of the houses at the very top end of the market in the £300k plus price range seem to have slowed a little. On the flip side of this we are seeing massive demand for anything up to £200k at present – almost all of the properties we bring to market now are going for well in excess of the asking price in the first week of marketing.
My predictions for the coming months are still a busy market with further house price rises. You’ll see the usual seasonal lull around Christmas but it soon bounced back in January this year. Demand is still fantastic and this can only drive up prices. I can, however, see a slight slowdown over the coming year. I am predicting a 6-7% rise between Oct 21 and Oct 22. I do think by the last quarter of 2022 we’ll start to see it going back to the last 6-7 years where house prices have steadily risen by 2-3% a year. I cannot see a situation, certainly in the next 12-18 months, where house prices start to fall.
Even if you aren't quite ready to move now and are maybe just thinking about it then the first step is to get a valuation on your house. I certainly don't mind visiting to do a face to face valuation at this stage or if you prefer we have an instant online valuation option or a social distancing valuation which is normally a little more accurate please click here for our valuation options.
Ben Roberts
Managing Director