4 January 2013

Derby Property Market Snapshot

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Traditionally at this time of year, the property market starts to wind down for the Winter weeks and the Christmas period. However, we’re still seeing a huge amount of interest in properties of all shapes, sizes and prices from across Derby. In fact, we’ve just had one of our best Octobers ever with regards to the amount of properties we’ve sold and November is shaping up to be an excellent month to, exceeding even our own expectations!

But what about the Derby market as a whole, have the amount of instructions and sales dipped? 

In our last report, we found that over the previous two week period there had been 315 newly available properties listed in Derby. Considering the time of year, you would expect there to have been a fair drop in new houses coming to market but in actual fact, it’s the opposite!

Over the last 14 days there have been 338 new instructions, an increase of over 7% which is excellent news. It shows that local sellers still have a lot of confidence in the market and if you’re looking to purchase a property, there’s still plenty of choice with an abundance of new properties becoming available on a daily basis. 

Some of the highlights of these 338 new listings include:

This beautifully presented, traditional family home has ample off road parking and an excellent sized, South facing rear garden:

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Plus, this stunning two bedroom detached bungalow in Chellaston has a superb conservatory which overlooks a private and low maintenance, landscaped rear garden:

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So, out of these 338 new properties that have come to market, there were still 17 that managed to achieve a sale within the first two weeks of marketing. It’s still a fair amount and a number of these were in fact sold by Hannells. It just goes to show that it doesn’t matter what time of year it is, you never know when you’re buyer is out there looking. So if you’re thinking of selling, don’t wait, get your property on the market!

Taking a look at the premier property market (£300,000 and upwards) there were 154 new listings from across Derbyshire. Whilst this is a slight reduction compared to the figures reported in our list issue, it’s only a drop of 10 and there will always be fluctuations in the numbers. Who knows what it will be next month!?

As always, there were some real stunners and unique properties that have become newly available including:

This is a fine example of a character five bedroom family home which boasts ample, superbly presented living space and is nestled within extensive, well maintained gardens. Excellent value for money at just £445,000:

Click here to view

Nine of these 154 properties managed to locate a suitable buyer within the first 14 days of marketing. Whilst by no means is this a barometer of how the market is performing, it’s still a steady amount. Especially when compared to the same period last year when we were lucky if we saw 1 or 2.

In property news from across the UK, it looks like it’s not just Derby that’s experiencing a steady increase in activity. The Council of Mortgage Lenders has reported that mortgage lending increased to £17.6bn in October, representing a rise of 9% from £16.2bn in September and 37% higher than the total of £12.9bn in October last year.

They also reported a reduction in the amount of repossessions with 7,200 in the quarter compared to 8,200 during the third quarter last year. 

With more competitive mortgage lending looking likely for next year and the newly launched Government incentive “Help To Buy” (which you can find out more about in this newsletter) starting to make some headway, it looks like 2014 is going to be another very busy year!