Derby Property Market Snapshot

Towards the end of 2013, all signs were pointing to a much improved market for 2014. So, halfway through January, is it still looking positive for the rest of the year? Well, we’re delighted to report that from our perspective here at Hannells – yes it certainly is!

Over the last two weeks, there have been 305 newly listed properties in the Derby area. This is fantastic news, particularly as January can traditionally be a slow month as people fall back into their routines after the Christmas and New Year break. It shows that confidence in the property market is growing month on month and there’s still plenty of choice for those that are looking to make a purchase – in any price range!

Included in those newly listed properties was this beautifully presented, traditional four bedroom semi-detached home in the ever popular and particularly lovely suburb of Spondon:

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And this stunning four bedroom detached family home in Alvaston which occupies an excellent sized, and relatively private, corner plot. Take a look:

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Even in January, there were 36 properties that were able to locate a buyer within their first two weeks of marketing. It just goes to further the case that you simply never know when you’re buyer is out there looking. One of these was sold in less than four days by our extremely motivated and passionate team in our brand new Allestree office – a great sign of things to come there! 

With regards to properties across Derbyshire priced £300,000 or more, there were 167 new listings. Again, fantastic news for those with a slightly larger budget as this will no doubt increase month by month throughout the year. 

Included in these new instructions is this executive, five bedroom detached family home on the much sought after “Bonnie Prince” estate in Chellaston:

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So, after what we consider to be a great start to the year for the Derby property market, how are things looking from across the UK as a whole?

Well, the news is similar with many analysts and forecasters predicting a strong market in 2014 throughout much of the UK. According to Countrywide, there was an average of 9.7 buyers registered per property on the market in November 2013, which is a huge increase compared to the 6.5 buyers per property in November 2008.

Home builders also have more confidence in the market with an increase of 24% innew homes being built over the last 15 months, the highest level since 2007.

We should also see some more competition in the mortgage market with the “Help to Buy” scheme encouraging lenders to release their own, more affordable products.

An interesting indicator of where you see the property market heading in 2014 is on the front page of our new website – www.hannells.co.uk – we’ve got a public poll whereby you can vote on what you think will happen to property prices over the next 12 months. At the moment, it’s tight between house prices staying at the same level (36%) and house prices increasing by 10% (37%). 

It will certainly be an interesting year and we’ll be here to keep you posted throughout. If you have any questions, please feel free to get in touch via enquiries@hannells.co.uk.

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