Stoke on Trent Property Market Sees An Unpredicted Autumn Boost of 15%

Well, it doesn’t seem like two minutes ago that it was Christmas – and now it’s all over! One cold December morning, after arranging the office’s Christmas cards I thought I would nip out for a quick festive coffee and mince pie at my favourite local coffee shop Tsp.  I met an old client of mine in the coffee shop and we got talking about the Stoke on Trent property market. I had just completed my research for my next blog article and I would like to share with you the parts of the conversation relating to the Stoke on Trent property market.

He asked me what my thoughts were about the last half of the year in regard to the Stoke on Trent property market and if there were any great buy to let deals around. In reply I said that, in my view, shrugging off the uncertainty of the initial post Brexit vote, I have seen an increase in supply and a rise in the number of properties selling at the lower to middle end of the market, meaning both first time buyers and buy to let landlords have been returning in the last few months – proof the market is beginning to bounce back.

So let’s look at the numbers ..

In November 2016, according to the three main property portals (Rightmove, Zoopla and OnTheMarket) there were a total of 315 properties for sale in ST1. In November 2015, there were only 275 properties for sale, a rise of 15%.

When I split it down into bedrooms (note things like building plots and part commercial/part residential etc won’t be in these figures so the numbers below wont exactly match up to those in the above paragraph).

	# Properties on the market in Nov 2015	# Properties on the market in Nov 2016	Per cent Change
5+ Bedrooms	2	6	+200%
4 Bedrooms	36	46	+28%
3 Bedrooms	99	93	-6%
2 Bedrooms	118	149	+26%
1 Bedroom	14	17	+21%

.. and when I looked at type of properties  .. it got even more interesting

Type of Property	# Properties on the market in Nov 2015	# Properties on the market in Nov 2016	Per cent Change
Detached	30	34	+13%
Semi	72	44	-39%
Terraced	96	138	+44%
Flat	30	31	+3%

As the number of ST1 properties put up for sale has risen by 15%, homeowners have become more realistic about how much their homes are worth. This increase in homeowners wanting to sell suggests there is renewed confidence in the Stoke on Trent property market and there are also signs that people are being more realistic about pricing their property.

 
As you can see, there has been a significant uplift in terraced properties, which means they are a great choice for first time buyers and landlords. So with a combination of realistic pricing and more properties on the market – both first time buyers and landlords alike might be able to pick up a few bargains!