Spring has definitely arrived, and the property market around Warrington, just like the local bees, is buzzing. According to mortgage industry technology company Twenty7tec,
March saw overall mortgage search records set, and this has been reflected in the amount
of activity in the local property market.
The King's Coronation has led to the addition of another Bank Holiday to the calendar this
month, giving house hunters even more time to look for their dream home. With this in mind, we expect this month to be even busier than the last so if you are considering putting your
property on the market, don't miss out on this royal opportunity.
Let’s take a brief look at what’s been happening over the last month in the local Warrington property market.
There are currently 453 properties available for sale in Warrington. While this is 5 fewer properties than were available last month, it is a 5% increase in the number of properties available since December, when there were 430 available.
Of the 458 properties that are currently available, 61 came on the market in the last two weeks. In March, 82 properties came onto the market; in February, there were 65; in January, there were 73; and in December, there were 33. A steady stream of properties coming onto the market each month is great news for buyers, as it means that they have more choice.
The average price of properties in Warrington is £274,555. This is an increase of 5% since February, when the average house price was £261,154. Last month, the average price was £269,292.
Most of the properties available are in the £100,000 to £200,000 bracket, with 148 currently on the market. In March there were 161; in February 182; in January, there were 192; and in December, there were 191.
There are 36 properties available in the £500,000 to £1 million bracket, and they are spending on average 128 days on the market.
Properties in the £400,000–£500,000 bracket are currently the fastest movers, spending on average only 86 days on the market.
They are closely followed by properties in the £300,000 to £400,000 bracket, which are now taking on average 90 days to sell.
One-bedroom properties had a median price of £95,000 in January and December. In February and March, the median price of a one-bedroom property in Warrington was £90,000 with an average price of £96,476. In April the median price rose again to £95,000 and the average price settled at £96,304. They are currently sitting on the market for an average of 263 days, down from 281 days in March.
This is another example of how selling property can take longer than people often imagine. If you’re looking to upsize from your first home, or are an investor looking to change your portfolio, please bear this in mind when planning.
Two-bedroom properties were the fastest movers in Warrington in March, spending an average of only 90 days on the market. They currently have an average price of £174,448 and a median price of £160,000.
Let’s take a look at the annual figures now.
Properties around Warrington had an overall average price of £242,119 over the last year.
The majority of sales around Warrington during the last year were semi-detached properties, selling for an average price of £248,408. Terraced properties sold for an average of £173,012, with detached properties fetching £393,630.
Overall, sold prices around Warrington over the last year were 4% up on the previous year and 10% up on the 2020 peak of £220,043.
This shows the high levels of activity in the local Warrington property market, which are likely to increase or, at the very least, remain strong as we head towards summer. There is a lot of demand and plenty of people looking to move around Warrington.
If you’re thinking of selling your property, feel free to contact us. If you’re thinking of buying, letting or renting a Warrington property, please don’t hesitate to get in touch. You can call 01925 235 338 or email email@example.com.