Baldock Property Prices Keeping Pace With National Average

9th September 2021 posted in SELLERS LANDLORDS

To understand the housing market, you cannot just look at things in isolation. We care about the Baldock housing market, but to better serve you, we stay up to date with the national market. Our services help you make an informed decision, and if you have any questions about the property market, please get in touch.

How are Baldock house prices faring?

According to Rightmove, as of the end of August 2021, house prices in Baldock are as follows:

Properties in Baldock had an overall average price of £358,470 over the last year.

The majority of sales in Baldock during the last year were terraced properties, selling for an average price of £341,255. Semi-detached properties sold for an average of £367,167, with detached properties fetching £518,433.

Overall, sold prices in Baldock over the last year were 13% up on the previous year and 12% up on the 2018 peak of £318,950.”

You will see from the figures below that the rise in property prices in Baldock is similar to the national average stated by the Office for National Statistics (ONS). According to the latest UK House Price Index figures from the ONS:

•                     Average property prices rose by 13.2% over the year to June 2021

•                     This is the highest annual growth rate recorded since November of 2003

•                     Average property prices in June were up 9.8% from May 2021

•                     The average house price in the UK reached £266,000 in June 2021, which is a record high

•                     The June 2021 average house price in the UK is £31,000 higher than the June 2020 figure

What do industry experts say about the current property market situation?

At Country Properties, we are more than happy to offer guidance on the local market. We work closely with buyers and vendors to know what people think and what actions they take.

We also listen to noted sources in the national housing market. We want to ensure you receive the best standard of information, and as you would expect, some known names in the market have plenty to say about what is happening right now.

Sam Mitchell is a regular source of property market views, and he said; “House prices continued on their upwards trajectory in June, with the latest ONS figures capturing the final frenzy amongst buyers and sellers before the stamp duty holiday scaled back. Despite the tax break now only being available to properties under £250,000, there are still other factors at play that will likely contribute to further house price increases in the months ahead. Historically low interest rates, an uplift in 95% mortgages and savings accumulated during lockdowns are all going to allow more people to enter the market.”

Sam Mitchell concluded by saying; “Let’s also not forget that the UK is still faced with a major supply and demand imbalance issue. A lack of new stock that fails to meet the demand we see today is enough on its own to push prices up. Particularly when we all appear to be looking for the same thing – a desire for more space, bigger gardens, and that now essential home office.”

James Forrester, another noted name in the UK property market said; “The UK property market continues to flourish driven, in part, by the stamp duty holiday but also the ongoing trend for larger homes, with detached properties seeing a huge 15.6% annual increase. We now know that the initial stamp duty deadline at the end of June has failed to dampen this appetite and the market cliff edge that many predicted is now starting to look very unlikely. With buyer demand remaining extremely robust and stock shortages plaguing much of the market, it’s safe to say house prices will continue to climb throughout the remainder of the year.”

In line with Government guidelines, our Baldock Branch is open and our experienced team is working hard to support you.  To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 895061 or 01462 742077, or you could email baldock@country-properties.co.uk  or ashwell@country-properties.co.uk.