Ryan MacLachlan, a Valuer at Alasdair Morrison & Partners in Newark says in his opinion the property prices in the town feel like they are finally starting to reach a peak now.
However, the Office of National Statistics March Housing Market report shows that the East Midlands was the region with the highest annual house price growth, with average prices increasing by and exceptional 12.4% in the year to March 2022, up from a growth rate of 11.6% in February 2022.
Ryan comments that although prices of property in Newark are still selling high, they are finally seem to be showing some signs of stabilising. The Newark office is still noting a high volume of qualified buyers, who are poised to view properties as soon as they come to the market.
Traditionally, the more “premium” part of the housing market has been slower at this time of year, but interestingly he is finding that this type of property is now performing better that it has ever done, with a variety of local and out of area buyers being attracted to keenly priced properties.
Ryan notes that Collingham is currently proving to be the most popular village near Newark for people to move to, with the Sales Team having had fantastic success in selling properties there since the beginning of the year. And it’s not just premium properties that are selling; in fact houses across all price ranges and sizes are selling quickly in this popular village.
If you’re thinking of selling your property, then now is the time to call Ryan and his team at the Newark office on 01636 700888 to arrange your free, no-obligation market appraisal.
