At Fraser Reeves, we aim to be local housing market specialists in Newton-le-Willows who also pay attention to what is happening across the country.

By paying attention to the local and national market, we can offer the best guidance and advice on what is happening, and what people should do.

A well-discussed issue in the housing market in the first few weeks of 2022 relates to property values. These are high across the country, and you might be surprised to learn they are on the move in Newton-le-Willows too.

How are house prices faring in Newton-le-Willows?

According to Rightmove, as of the end of January 2022, house prices in Newton-le-Willows are faring as follows;

“Properties in Newton-Le-Willows had an overall average price of £194,096 over the last year.

The majority of sales in Newton-Le-Willows during the last year were semi-detached properties, selling for an average price of £168,058. Terraced properties sold for an average of £143,739, with detached properties fetching £302,928.

Overall, sold prices in Newton-Le-Willows over the last year were 11% up on the previous year and 18% up on the 2019 peak of £164,716.”

This property increase is likely linked to demand for homes being greater than the supply of homes.

The market usually responds in this manner, with higher house prices enticing some homeowners to sell whereas they wouldn’t show any interest if the price was lower. Also, when the market is competitive, buyers understand they usually have to pay a higher price to be successful when making an offer on a home.

Big numbers in the housing market

Boomin’s research indicates the current English housing market has a value of £7.4 trillion. The housing market remains the biggest factor, with a market value of £4.6 trillion, but many people might be surprised at the rental market value standing at £1.5 trillion.

Michael Bruce, CEO and Founder of Boomin, comments: “We are a nation obsessed by property and home-ownership is one of the key milestones that we all strive to achieve in life. So it’s hardly surprising that the total value of the nation’s ownership market is over three times that of the rental market and home-ownership remains the predominant style of living for the vast majority. An increase in both property stock and in house prices has also seen this value increase notably over the last decade, but the latter has also spurred a far greater increase across the private rental market.”

Michael Bruce continued by saying; “Many are now opting to rent for longer periods and until much later in life as the ever-escalating cost of buying prices them out of the market. So, while the housing market still reigns supreme in terms of total size and value, there has been a far greater level of value growth across the private rental sector to accommodate this new way of living and this trend is apparent across all regions of the nation. So those investing in property over the past decade have won hands down, but property investors and landlords especially it seems. London too is the big winner. Despite the stalled market in the capital of late, its overall momentum as a property market powerhouse means that it has seen the biggest value improvements in the last decade regardless.”

Contact Fraser Reeves for all your Newton-le-Willows property needs

As local agents in Newton-le-Willows, we are keen to support vendors, buyers and landlords in the area as best we can. We offer an extensive range of services, aimed at helping you make your next move with confidence.

If you would like to arrange a property valuation, or discuss your property options, please call Fraser Reeves on 01925 222555.