A look back at the Warrington housing market over the last decade
With all of us completing the Census, a couple of weeks ago, it made me realise profoundly that mine and my family’s life, which from our own point of view seems unique and delightful, makes us all into a series of statistics for the Census gatherers to pore over. To digest and regurgitate facts, figures and trends for those who are interested in the ever- changing social circumstances of these islands.However, the information from the Census is vital to improving our lives - Governments can plan the future with the information it provides and we in turn can wonder about the lives of our past generations with the information provided therein historically if we so wish.
Whilst the information from this Census won’t be published until March 2023, let us have a look at what has been happening in the Warrington property market since the last time we completed the Census in 2011.
Just to remind you, 2011 saw the wedding of Prince William and Kate Middleton, Mr Cameron was the PM, there was the last flight of the Space Shuttle and Game of Thrones premiered.
Whilst in the Warrington property market …
· The average price paid for a Warrington detached home in the last 12 months has been £343,600. The average value of a Warrington detached home has risen by 27.5% in the last 10 years or £68,400
· The average price paid for a Warrington semi-detached home in the last 12 months has been £198,600. The average value of a Warrington semi-detached home has risen by 38.6% in the last 10 years or £55,700
· The average price paid for a Warrington town house/terraced home in the last 12 months has been £149,700. The average value of a Warrington town house/terraced home has risen by 27.5% in the last 10 years or £36,800
· The average price paid for a Warrington apartment/flat in the last 12 months has been £107,400. The average value of a Warrington apartment/flat has risen by 36.8% in the last 10 years or £34,900
New properties built in Warrington…
Irrespective of any dip in Warrington house prices or transactions when the Stamp Duty Holiday ends in the autumn, this is a trend that looks set to continue, with no sign that supply of new homes is anywhere near to keeping pace with demand for households.
There have only been 3,446 new properties built in Warrington in the last 10 years, that’s less than 29 a month. That means the population in Warrington has risen by 1.72 people for every new home built over that decade.
Nationally, the Country has only built just over 180k homes a year over the last decade, 120k less than the national target of 300k. In the meantime, the population has grown by more than 4 million.
When looking locally at the size of new build property in Warrington, the average property is around 850 sq. ft., which is 13% larger than a decade ago.
Rents in Warrington …
Whether you are a winner or loser in terms of rental values depends on whether you are a Warrington landlord or a Warrington tenant.
The average rent for a property in Warrington currently stands at £600 per month, whilst a decade ago, it was £545 per month
This means private rents have increased by 45p a month for the past ten years. Interesting, when compared to the national average of 98p a month whilst in London, rents have grown by £4.64 a month.
The next 10 years of the Warrington Property Market…
The next ten years will also be just as fascinating. To try and predict would be a fool’s game.
For example, who would have believed what the Warrington property market has done in the last 12 months since the start of Lockdown 1.0. The number of transactions (i.e. people moving) in turn with UK house prices having risen so much in the last year ... all during a worldwide pandemic and at a time of such mayhem and havoc in the UK and world economy, is nothing short of remarkable … the question is – is it sustainable?
Read these articles in the coming months and years and I will share with you what is happening to the value of your Warrington property, be you a Warrington homeowner or Warrington landlord.
If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.
Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.
Don't forget to visit the links below to view back dated deals and Warrington Property News.
CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page
Whilst the information from this Census won’t be published until March 2023, let us have a look at what has been happening in the Warrington property market since the last time we completed the Census in 2011.
Just to remind you, 2011 saw the wedding of Prince William and Kate Middleton, Mr Cameron was the PM, there was the last flight of the Space Shuttle and Game of Thrones premiered.
Whilst in the Warrington property market …
· The average price paid for a Warrington detached home in the last 12 months has been £343,600. The average value of a Warrington detached home has risen by 27.5% in the last 10 years or £68,400
· The average price paid for a Warrington semi-detached home in the last 12 months has been £198,600. The average value of a Warrington semi-detached home has risen by 38.6% in the last 10 years or £55,700
· The average price paid for a Warrington town house/terraced home in the last 12 months has been £149,700. The average value of a Warrington town house/terraced home has risen by 27.5% in the last 10 years or £36,800
· The average price paid for a Warrington apartment/flat in the last 12 months has been £107,400. The average value of a Warrington apartment/flat has risen by 36.8% in the last 10 years or £34,900
New properties built in Warrington…
Irrespective of any dip in Warrington house prices or transactions when the Stamp Duty Holiday ends in the autumn, this is a trend that looks set to continue, with no sign that supply of new homes is anywhere near to keeping pace with demand for households.
There have only been 3,446 new properties built in Warrington in the last 10 years, that’s less than 29 a month. That means the population in Warrington has risen by 1.72 people for every new home built over that decade.
Nationally, the Country has only built just over 180k homes a year over the last decade, 120k less than the national target of 300k. In the meantime, the population has grown by more than 4 million.
When looking locally at the size of new build property in Warrington, the average property is around 850 sq. ft., which is 13% larger than a decade ago.
Rents in Warrington …
Whether you are a winner or loser in terms of rental values depends on whether you are a Warrington landlord or a Warrington tenant.
The average rent for a property in Warrington currently stands at £600 per month, whilst a decade ago, it was £545 per month
This means private rents have increased by 45p a month for the past ten years. Interesting, when compared to the national average of 98p a month whilst in London, rents have grown by £4.64 a month.
The next 10 years of the Warrington Property Market…
The next ten years will also be just as fascinating. To try and predict would be a fool’s game.
For example, who would have believed what the Warrington property market has done in the last 12 months since the start of Lockdown 1.0. The number of transactions (i.e. people moving) in turn with UK house prices having risen so much in the last year ... all during a worldwide pandemic and at a time of such mayhem and havoc in the UK and world economy, is nothing short of remarkable … the question is – is it sustainable?
Read these articles in the coming months and years and I will share with you what is happening to the value of your Warrington property, be you a Warrington homeowner or Warrington landlord.
If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.
Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.
Don't forget to visit the links below to view back dated deals and Warrington Property News.
CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page
No comments:
Post a Comment