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Chester Market Activity
So as we look back for our Spring addition analysing the local Chester Property Market, have there been any changes?
According to Zoopla, there have been a total of 196 recorded sales in Chester over the last 3 months, with the average price paid at £223,820. Looking at property types for average price paid, terraced houses come out at £193,812 for the year while Semi-detached at £228,672.
In the past year property prices in Chester have increased 1.06% showing an average growth rate.
The current average value for May 17 is £256,869 which is a 1.76% increase from February 17.
Chester remains a popular city for homeowners and renters alike; offering a wealth of history, beauty and Chic with its Tudor buildings and local boutique shops. This city’s property market values higher than nearby local areas, but does this mean that first time buyers might struggle to get on the market here? Or that the higher asking prices might increase the time on the market?
Over the last 12 months home.co.uk looks at some figures for the Chester area as follows:
From the chart above it tells us that the 2 brackets covering £200k-£400k have the least time on the market in comparison to the others, in comparison to other nearby areas I looked at earlier in the year which tends to fall in the £100k-£200k bracket. This could be caused by a couple of things, one being that, that’s probably the most common pricing in this area meaning there are more properties in that price bracket than the others and it could also correlate with the factor that first time buyers (who will generally be in the under £100k or £100k-£200k brackets) are being pushed out of the market here.
The latter two graphs offer no surprises in terms of type or size of property and their correlation to the time on the market, as the need for family homes ever increases for both the rental and sales sectors.
Local Property Gem
Take a look at this stunning large detached family home in Clutton, Chester. On the market with ourselves for £950,000, this property really gives that wow factor and gives an example of what you can get in and around Chester if you have the budget for it of course. But there’s no doubt that if you do have the money to spend, then Chester is certainly the place to be in the North West.
Search Facebook for the local support group: “Chester Landlords and Investors” run by Michelle Cairns and there is a Chester Property Meet run every month.
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