Stoke-on-Trent Housing Crisis? Only 1.4% of Stoke-on-Trent Homes Are For Sale

The Stoke-on-Trent 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 Stoke-on-Trent 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 Stoke-on-Trent, the market is likely to see upward pressure on property values continue.

 

 

For example, last month St1 saw 123 new properties coming on to the market, not bad when you consider for the last year the average has been in the 60 to 80 range. With the average Stoke-on-Trent property value hitting a record high, reaching almost £141,200 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, 1.40% of Stoke-on-Trent properties are up for sale. In terms of actual chimney pots, that equates to 1,236 properties on the market in Stoke-on-Trent (within 3 miles of the centre of Stoke-on-Trent) – which, when compared to only a year ago when that figure stood at 1,386, 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 Stoke-on-Trent  - 178 on the market a year ago compared to 145 on the market now – a decrease of 19%

·         Semi Detached Properties in Stoke-on-Trent - 420 on the market a year ago compared to 338 on the market now – a decrease of 20%

·         Terraced Properties in Stoke-on-Trent - 459 on the market a year ago compared to 502 on the market now - an increase of 9%

·         Flats / Apartments Properties in Stoke-on-Trent  - 176 on the market a year ago compared to 151 on the market now – a decrease of 14%

This is evidence of strength in the Stoke-on-Trent housing market that many didn't expect. Many believed that the Stoke-on-Trent 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 Stoke-on-Trent Property Market – which is good news for everyone.