11 Feb Darlington Property Market – February
While there is optimism surrounding the property market for 2020, we believe it is best to examine the local market. As your local property specialist, we monitor the Darlington property market to ensure we’re giving you the very best advice when buying or selling in the local area.
Our local knowledge is vital when selling homes or helping people to buy a home – when is the best time to sell, what are the local market trends, how can I maximise the value of my home.
We are Darlington market specialists, and if you are looking for assistance from professionals who know and love this area, we are here to assist you.
Therefore, who better to provide you with relevant statistics and figures from the Darlington property market than us?
Over the last 12 full months, there has been a total of 1,492 property sales in Darlington. The level of sales in this period is consistent with the previous 12 months, and the average sales price of property in Darlington is £124,451.
Darlington’s West End continues to perform
Darlington’s ever popular West End continues to perform well with an average sale price of £189,833. This is 2.9% increase on last year. Transaction numbers continued to increase with a total of 539 sales in 2019 which is a 4.9% improvement. If you consider that transactions in England and Wales fell by 9.3% last year, the West End is still a great place to buy.
Detached houses in the West End represent 18.8% of the transactions in area and an average property price of £317,675. Interestingly average prices of detached houses in the Northeast as a region is only £244,403
Terraced houses still represent the largest number of transactions with 38.4% of sales in the West End.
Looking at DL1, DL2 and DL3, there are currently 477 properties listed for sale over the last 30 days with an average asking price of £204,660. (Remember that Average sold prices are £124,451 – an £80,209 difference!)
Highest value of property under offer was ‘Guide Priced’ at £425,000 – a 4 bedroom character property on Front Street in Staindrop which is on the market with GSC Grays.
Looking at average time on market, it’s 124 days. Remember, our average time on market is 67 days.
New homes are needed in Darlington property market
Development of new homes continues to be a hot topic. This is an issue affecting the housing market across the country, and there is a need to ensure a more significant number of houses are supplied to the market. In the past five years, a total of 1,300 new private homes have been developed across the Local/Unitary Authority of Darlington. This equates to 260 new private homes being developed each year.
If you plan on making a property move in 2020, we can help. Anyone looking to sell their Darlington home should contact us to arrange a property valuation. You must enter the market with an accurate valuation, and we are here to assist you with this, and all parts, of the sales process. At Anthony Jones Properties, we care about Darlington, and this means we are the ideal partners for you to rely on when selling your home, so contact us today.