2021 is set to be one of the busiest sales years in over a decade
Agents report the sales to stock ratio across the South East is at its highest level in five years (RICS). At 3.6%, the annual rate of housing stock turnover across the Thames Valley, Berkshire, Oxfordshire and Buckinghamshire is above the UK average. Levels currently exceed 4% in the most active markets.
Price growth strengthens
Although new instructions to the market have improved slightly in recent weeks, demand continues to outpace supply, placing sustained pressure on prices. Month-on-month average property prices are rising in all regions of the UK.
Year-on-year price growth across the South East is substantially stronger than the 1.9% recorded this time a year ago (UKHPI). Double-digit annual price growth is evident in Oxford and the Vale of White Horse.
A seller’s market
Market activity is fast-paced. According to Rightmove, the average time taken to sell a property in the South West is 43 days. The proportion of properties selling within their first week of listing is at a record high (Zoopla) and the average time taken to sell a property in the UK is nearly three weeks quicker than in April 2019 (Rightmove). Lifestyle change continues to drive demand, buyers also aided by the extension of elements of tax relief and the new 95% government-backed mortgage guarantee scheme, available on either new or resale properties.
Properties for sale in the Thames Valley, Berkshire, Oxfordshire and Buckinghamshire regions
Olney, Milton Keynes, 3 bedrooms
Nestled within a quiet courtyard in the picturesque village of Olney is this wonderful three-bedroom semi-detached home. Built in 2004, the property embodies the charm of a period property with traditional style brickwork and wooden features throughout. Externally there is an easily maintained wrap-around garden that ensures sunshine all day and the property overlooks a courtyard with two allocated parking spaces.
Oxford, Oxfordshire, 4 bedrooms
A beautifully designed and renovated three/four-bedroom property in a highly sought-after location, this home offers an abundance of period features, high-quality fittings and a landscaped rear garden. The property has been renovated to an exceptionally high standard with the addition of reclaimed fireplaces, underfloor heating, and 'Fired Earth' bathrooms. The upper floors enjoy beautiful views including a wonderful view of St Philip and St James Church. To the exterior of the property, there is an attractive front garden enclosed by hedging and a low retaining wall with a wrought iron gate and railings. To the rear, the garden is mainly laid to lawn with flowers, shrubs and trees, and a useful outbuilding/bike store.
Reading, Berkshire, 4 bedrooms
The owners of this delightful property have invested substantially in the house to bring their forever home to life, creating a stunning interior with many outstanding features which must be seen to be fully appreciated. The property is situated on a modern development, enjoys a front aspect over the local tree-lined sports field, giving a semi-rural feel. It has the potential, subject to planning consent, to convert the garage into a dining room and the loft being large enough to accommodate two further bedrooms with an en-suite and a walk-in dressing area.
Take advantage of the seller's market this summer with the best agent in your area. Contact your local Guild Member today.