MALVERN has the highest spike in the average sale price of homes in Worcestershire in the last 12 months, Nicol and Co reveal.
Transaction prices in the area are up 9%, averaging £290,500 for a house, followed by Worcester which is up 6% to £237,500.
Matt Nicol, managing director of Nicol & Co, explained that the figures from the latest available Land Registry statistics for the year ended 31 July 2022 and also reflected the post-pandemic market, with total sales across the county falling by 38% to 3,757.
Mr Nicol pointed to the Property Academy Home Moving Trends Survey 2022, which revealed over half of home buyers would consider buying a new build, and 17% are looking only at brand-new homes.
Which are possible reasons behind the failing sales and the spike in the average sale price of homes.
Matt said: “The turmoil in the money markets and the disruption of energy supplies seemed to have stalled what was beginning to look like a return to a new normal after the pandemic.
“Tempting though it is to be flippant, with talk about how busy removal companies have been in Downing Street, we shall just have to wait and see as things unfold with a new leadership team.
“Concerns over energy costs are real, and a great deal of attention is now focused on energy bills, and this could well be the factor influencing more people to consider buying a new home.”
