Only 1.4% of Northampton Homes Are For Sale

The Northampton Property Market continues to disregard the end of the world prophecies of a post Brexit fallout with a return to business as usual after the summer break.

The challenge every Northampton 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 Northampton, the market is likely to see upward pressure on property values continue.

For example, last month in NN5 saw 133 new properties coming on to the market, not bad when you consider for the last year the average has been in the 85 to 95 ranges. With the average Northampton property value hitting a record high, reaching almost £238,100 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, 1.48% of Northampton properties are up for sale. In terms of actual Chimney Pots, that equates to 1,077 properties on the market in Northampton (within 5 miles of the centre of Northampton) – which, when compared to only a year ago when that figure stood at 1,103, is a slight 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 Northampton  - 343 on the market a year ago compared to 394 on the market now – an increase of 15%
• Semi-detached Properties in Northampton - 233 on the market a year ago compared to 221 on the market now - a decrease of 5%
• Terraced Properties in Northampton - 210 on the market a year ago compared to 196 on the market now – a decrease of 7%
• Flats / Apartments Properties in Northampton  - 230 on the market a year ago compared to 176 on the market now - a decrease of 23%

This is evidence of strength in the Northampton housing market that many didn't expect. Many believed that the Northampton property market wasn't going to be strong enough post Brexit - as what was a sellers' market before the Brexit vote and Buyers' market in the early months after it, may now be somewhere in between and the market might just be coming back into balance.

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 might dip slightly. This won't be down to Brexit but a re-balancing of the Northampton Property Market – which is good news for everyone.