Ask an Expert: Nick Wearmouth - Your Weekly Local Property Market Review (12th June)

Story posted: 12.06.20

The market locally remains extremely active.  However, there have been a number of reports in the national press focusing on house prices since the beginning of June.  Nationwide published their latest house price data and it made for an interesting reading.  In April, house prices increased by 0.9% with the annual change of 3.7%.  As the lockdown hit home May saw those numbers fall to -1.7% reducing the annual rate of change to 1.8%. 

May’s figures were the largest decline since February 2009. Eye-catching to say the least but considering the market was brought very close to a complete standstill due to the government restrictions, it’s not entirely surprising.  During the financial crisis just over decade ago, the house price data was in decline month on month.  The acid test for the market in 2020 is whether this trend continues over the next quarter. 

Ashtons' own experience is one of activity returning to the levels seen at the beginning of the year where the market was rebounding after the election and the political part of Brexit being agreed.  Zoopla reported that the average asking price of sale agreed properties in the first week of June 2020 are running 6% higher than the equivalent period a year ago.  Rightmove are also reporting exceptional levels on searches since the end of lockdown. 

The next few months will be crucial.  If you need an expert understanding of how the market is affecting your home, contact the office today to speak to one of our knowledgeable colleagues on 01582 461166.  It is important to remember that the investment in a house is not a short-term experiment, for the majority of us, a home is security and somewhere to live for 10 years or more.  Interest rates are at historically low levels which results in some incredibly competitive finance options, meaning property remains a far more certain long-term investment than many other opportunities currently available.

Property of the Week; including virtual tour:

Sunnyside Cottages, Dell Lane, Ashley Green - Guide Price £1,000,000

Positioned within a plot of approx. 2.75 acres this substantially and sympathetically extended family home is beautifully presented throughout and enjoys breath-taking views over rolling countryside. To view the video tour, click here.

Contact 01582 793555 or email: salesvaco@ashtons.co.uk for more information.


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The online feedback system showing who has booked viewings and their feedback was amazing -- totally addictive .


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