Northumberland’s residential property market is continuing to prosper, new figures from a leading estate agent show.
Northern property firm, Bradley Hall, has found great residential success from their Alnwick branch and have completed £20million worth of sales in 2022, with an average price of £486,000.
This is 70% more than the UK average house price, which was £281,272 in December, according to the Halifax House Price Index.
After a strong start to 2022, the UK housing market has shown signs of slowing down, following the end of the stamp duty cut and the rise in interest rates, which makes the figures from Bradley Hall’s Alnwick office even more impressive.
Angus Todd, director at Bradley Hall Alnwick, said: “We’re delighted with our residential property figures from our Alnwick branch for 2022. In what was a turbulent year, the team have done a brilliant job to complete such valuable deals on behalf of our clients.
“These figures show the real value of using an agency with a local presence, who know the areas they operate in inside-out and can use that to ensure they get the best outcomes for customers.
“With the pressures that many people are under financially, it is more important than ever to have an agent who can get you the best deal possible.”
The rise in sales follows Alnwick being ranked among the top 10 places to live in the north of England by The Sunday Times.
The Sunday Times’ expert judges assess a wide range of factors when producing the league table, from schools, transport and broadband speed to culture, green spaces, and the health of the high street.
“Northumberland is a beautiful area with so much going for it,” added Angus. “From our fantastic castle at Alnwick to Northumberland National Park, there are plenty of things to do and see for anyone moving to this historic area.”
Across the UK, the average house price remains higher than it was at the start of 2022 and is over 11% more than at the beginning of 2021.
“The market from our Alnwick branch has shown a real resilience despite the economic pressures that are affecting many people and the numbers from our Alnwick branch compared to this time last year reflect that. When looking at January 2022 compared to this year, we have seen a 175% increase in market appraisals, and a higher number of residential sales that have completed – demonstrating a healthy and buoyant market across Northumberland and the wider region.” added Angus.
“In addition to this, we have agreed on five sales at one of our highly sought after new homes developments in the last week which gives us confidence that the market is continuing to perform as we enter 2023. This highlights the strength and popularity of this area and how attractive it is for people looking for a home in the North East.”
The office’s biggest completion of 2022 was a £3.25million off-market sale.
Bradley Hall Alnwick offers a range of commercial, residential and property valuation services for all types of property from its office on Alnwick high street.
The firm also has offices in Durham, Gosforth, Manchester, Morpeth, Newcastle, Sunderland, Leeds, and Tees Valley.
For more information on Bradley Hall, visit: https://www.bradleyhall.co.uk/
