How is the South East's Property Market behaving in 2017?
The latest Market Insight from Parkers Estate Agents reveals that house prices in and around the Reading area have risen by 7% over the past 12 months, compared with 5.4% across the wider south east region.
Price growth in the area was strongest for larger family homes, equating to a rise of 10.3% over the last year - with the average sales price reaching £361,585.
The market intelligence report, compiled in partnership with Dataloft, gives an insight into the lettings and sales markets in the South East, and is free for download for all landlords in the region.
The number of investment purchases has been overtaken by that of first time buyers, a market which now makes up around 26% of all sales in Reading. Across the south east as a whole, first time buyer loans increase by a massive 78% over the past few years, a reflection of the national property scene which saw 42% of all mortgage loans across 2016 issued to this demographic.
From a rental perspective activity has remained relatively steady over recent times, with areas including Woodley and Tilehurst predominantly family markets, and Reading itself continuing to be a hotspot for young couples.
With the General Election now only a matter of weeks away the expectation is a slight degree of caution in the very short-term, but a continued rise in demand and prices across the remainder of 2017.
Market intelligence reports have also been compiled for other areas across the Parkers brand, including Thame, Chinnor, Stroud, Nailsworth and Swindon. Contact your local Parkers office today to get your hands on a free copy. You can expect to find statistical breakdowns of the local lettings and sales markets, plus market expectations for the future.