House Prices in Newton-Le-Willows

Rightmove states the average price of a property in Newton-Le-Willows over the last year was £193,865. This is an increase of 4% from the previous year and 16% from the 2020 peak of £167,538.

The majority of sales in Newton-Le-Willows during the last year were terraced properties, which sold for an average price of £151,148. Semi-detached properties sold for an average of £197,274, and detached properties sold for an average of £320,150.

Property Market Update UK:

The UK housing market experienced the smallest increase in asking prices in over a decade in October 2023, rising by a mere 0.5% to reach £368,231. This is in stark contrast to the typical 1.4% increase seen during this season, and the lowest at this time of year since 2008.

The annual price change continues to trend downwards, with prices now 0.8% lower than they were in October 2022. This is the first time in over a decade that annual price growth has been negative.

Despite the subdued market conditions, the number of buyers enquiring to each available property is still 8% higher than it was in 2019, according to Rightmove. However, the proportion of homes that are finding a buyer has dropped from eight in every ten at the height of the frenzy, to a more subdued sales rate of six in every ten. This makes pricing competitively more critical to really stand out in the market.

On a positive note, average fixed mortgage rates have now fallen for 11 consecutive weeks. The average two-year fixed rate is now below 6% for the first time since June, and the average five-year fixed rate has dropped from 6.08% 11 weeks ago to the current 5.43%.

Buyers in Newton-Le-Willows should be patient and do their research to find a property that meets their needs and budget. Sellers should price their property competitively right from the start and be prepared to negotiate. Both buyers and sellers should work with a qualified estate agent who can help them navigate the current market conditions.

Contact Fraser Reeves for all your Newton-le-Willows property needs

As local agents in Newton-le-Willows, we are keen to support vendors, buyers and landlords in the area as best we can. We offer an extensive range of services, aimed at helping you make your next move with confidence.

If you would like to arrange a property valuation or discuss your property options, please call Fraser Reeves on 01925 222555.