The August housing market in Southwell and Newark shows no signs of slowing down, according to Chris Pick, Business Development Manager and Valuer at Alasdair Morrison & Partners.
His view is that a shortage of housing stock coming onto the local market is ensuring that initial guide prices are remaining high with no indication of house prices falling at present.
This viewpoint from an independent estate agent is validated by the recent Nationwide House Price Index, which confirmed that the average UK house price rose by almost £5,000 in August 2021 to £248,857, a monthly rise of 2.1% and the second highest in 15 years. The property market continues to boom after the partial end to the government’s stamp duty holiday in England and Wales, when it was expected to slow down.
Chris puts the market resilience down to a lack of properties for sale and determined buyers who are still looking for larger homes better suited for home-working. Additionally, demand is outstripping supply with both Southwell and Newark offices of Alasdair Morrison & Partners receiving immediate interest from qualified and motivated buyers on all new sale instructions.
In conclusion, house prices in Newark and Southwell are still strong and show no immediate signs of reducing just yet. Chris’ advice to anyone thinking of selling is to speak to a local property expert and to ask for a free, no obligation market appraisal. Just call 01636 813971 or 700888.
