The Warminster Property Market continues to disregard the end of
the world prophecies of a post Brexit fallout with a return to business as
usual.
The challenge every Warminster property buyer has faced over the
last few years is a lack of choice – there simply hasn't been much to choose
from when buying (be it for investment or owner occupation). Levels are still
well down on what would be considered healthy levels from earlier in this
decade, as there is still a substantial demand/supply imbalance. Until we start
to see consistent and steady increases in properties coming on to the market in
Warminster, the market is likely to see upward pressure on property values
continue.
For example, last month BA12 saw 60 new properties coming on to
the market, not bad when you consider for some months in the last year the
figure has been as low as the 20-40 range. With the average property value
hitting a record high, reaching almost £277,800 according to my research, this
shortage of properties on the market over the last two years has contributed to
this ‘fuller' average property figure.
As I write this article, 1.03% of Warminster properties are up
for sale. In terms of actual chimney pots, that equates to 66 properties on the
market in Warminster (within 2 miles of the centre of Warminster) – which, when
compared to only a year ago when that figure stood at 89, is a serious decrease
in the number of properties available to buy. Split down into the type of
property, it makes even more fascinating reading...
·
Detached Properties in Warminster - 54 on the market a year ago compared to 25
on the market now – a decrease of 54%
·
Semi Detached Properties in Warminster - 14 on the market a year
ago compared to 10 on the market now – a decrease of 29%
·
Terraced Properties in Warminster - 7 on the market a year ago
compared to 6 on the market now – a decrease of 14%
·
Flats / Apartments Properties in Warminster - 10 on the market a year ago compared to 16
on the market now - an increase of 60%
This is evidence of strength in the Warminster housing market
that many didn't expect.
However, all this will mean property values won't continue to
grow at the same extent they have been over the last 12 to 18 months, and in
some months (especially on the run up to Christmas and early in the New Year),
values will steady. This won't be down to Brexit but a re-balancing of the Warminster
Property Market.
