Sarah Butterfield from youngsRPS Hexham based, North East residential team brings us an update from the North East housing market.
Following the mini market shock towards the end of 2022 much doom was professed for the UK property market. But, in complete contrast to what the media foretold, our North East property team, based in our Hexham town centre offices, saw a steady rise in both valuation requests and listings, ultimately leading to steady sales throughout January and February.
Demand for properties has remained at an unprecedented high but as we moved out of February and into March the number of properties to market began to also increase. By the end of March, we were seeing higher listings since those experienced pre-Covid. Likely fuelled by a surge in first time buyers and the easing of mortgage rates married with a historically low unemployment rates, this has resulted in a rise in consumer confidence in what appears to be sustained market stability.
The properties coming to market with us varies greatly, from the traditional stone period homes that Hexham is known for to more modern properties and of course a selection of new developments nearing completion. Developments, such as The Wool House town centre apartments, ideal for last time buyers, sole occupiers, retirees, downsizers, or young professionals looking for quality and individuality. And not forgetting, Gilbert Grange in the picturesque village of Kirkwhelpington, an exclusive range of 17 homes surrounded by open countryside that includes two-bedroom bungalows and two, three and four bedroom semi-detached and detached homes, all the makings of idyllic village life.
