Stone Life Apr/May 2014 | Page 53

PROPERTY A look at the market in… STAFFORDSHIRE T his month, we take a look at the thriving property market in Stoke on Trent and the Newcastle under Lyme area, where demand for property is now truly out weighing supply. Daniel Smart, Branch Manager of Hunters in the Stoke on Trent and Newcastle under Lyme office says,” It has been a phenomenal start to the year, we have seen 50% increase in our agreed sales with multiple buyers for many properties, we desperately need more properties to satisfy our extensive list of ready and able buyers.” He says, “The office has been the busiest we have seen since we joined Hunters with sales beating all our targets and activity levels on the increase. It is really a good time to sell; we cannot put the sold slips on fast enough here in Staffordshire although many agents claim little is happening in the market”. Hunters activity levels are backed up by recent figures and stats released in the media. According to research undertaken by Nationwide, UK house prices rose by 0.7% in January and were 8.8% higher than they were back in January 2013. This figure represents the fastest year on year increase in house prices since May 2010. Property site Rightmove found that interest in properties is currently at a record high and the number of property pages viewed on their site increased by 20% in the first two weeks of 2014. Kerry Smart, Franchise Partner at Hunters Stoke on Trent, says “It is great to see a renewed spirit of optimism in the housing market in Staffordshire – things are looking up!” In 2011, it was reported that the average house price in Stoke-onTrent was the lowest in the country at £73,733. The average house price in Staffordshire was reported to be £134,460 and house sales saw a nationwide general decline. According to Zoopla and by comparison, the average price of a house in Stoke-on-Trent now stands at £123,623, an increase of 3.76% on last year’s figures. The average price of a house in Staffordshire has enjoyed a significant 4.72% leap in the past year and is now a much healthier £157,877. Stoke-on-Trent remains the cheapest place to buy a house in Staffordshire, while Lichfield has the county’s highest average selling price at £225,343. There has also been a rise in first time buyers, helped by schemes such as Help to Buy and a fall in interest rates. If you are thinking of selling or letting this spring, Hunters offer free market appraisals. Give Kerry or Dan a call on 01782 626522. Or if you have any questions email [email protected] According to research undertaken by Nationwide, UK house prices rose by 0.7% in January and were 8.8% higher than they were back in January 2013 April/May 2014 53