New homes boosting Shropshire property sales

Sales of new homes on residential estates are helping to boost the Shropshire property market, new figures revealed today.

Luxury homes on small exclusive developments have helped drive up the average selling price of a home in the county, but Land Registry research also shows a hike in the number of sales on larger town centre residential developments. The average sale price of a home in the SY postcode area is £198,541.

And 845 properties were sold there between April and June.

In the TF postcode area, which includes Newport and Shifnal, 389 homes were sold with an average selling price of £173,448. Both regions saw more detached homes sold than other types of property, with 150 detached houses sold in Telford.

The hotspot for property sales in Telford was the Lawley Village postcode area of TF4, with 34 homes sold at the development in the three month period, including 16 detached properties selling at an average of £202,055.

Flats

In the SY region, more properties were sold in the SY2 5 region of the Telford Estate in Shrewsbury, with nine detached,16 semi-detached and 18 terraced properties sold, bringing the total to 143 homes selling for an average price of £176.051.

Sales of flats in the Telford and Shrewsbury postcode areas remained low, with only 10 sold in the TF area and 46 in the SY area, mainly in new developments in the town centre SY1 area.

The most expensive homes in the TF postcode area, excluding new developments, were in Newport and its surrounding villages, where a detached property was selling for about £316,111.

The cheapest homes were in the TF3 area of Stirchley, where semi-detached homes and terraced properties we- re selling for an average of £84,766. In the SY zone, the most expensive homes were in SY7 in south Shropshire, where in Clun and surrounding villages detached homes sold for an average of £394,250.

The average price of property was under £100,000 in only one SY region, in Newtown, Powys, where nine properties sold for an average of £99,222. The research comes days after new figures showed house prices had fallen for the first time in a year last month.

The Royal Institution of Chartered Surveyors said eight per cent more of its members reported a fall than a rise in property prices in July - the first time since July 2009.

Richard Franklin, RICS spokesman in Shropshire said: "With a gentle softening of the market in the second part of the year the emphasis will be on vendors to price realistically to achieve a sale."

FACTS AND FIGURES

• The average sale price of a home in the Shropshire Council area has risen from £157,016 in June 2009 to £167,196.

• More homes were sold in the TF2 area of Telford, around Muxton towards Priorslee, than any other postcode zone excluding the new Lawley Village development.

• The average price of a home in the Telford & Wrekin Council area has risen from £129,867 to £133,807 in the last year

• The most detached homes in the SY region were sold in the SY4 5 zone of north Shropshire including Hadnall and Wem where 25 properties sold for an average of £272,912

• The most semi-detached homes sold in the Telford area were in TF2 8 which includes Trench and Donnington, where 12 properties went for an average of £129,041

• The most expensive terraced homes in the TF postcode zone were in the Market Drayton area, where the average property sold for £190,155

• Town centre properties in Shrewsbury remained one of the most popular hotspots, with 40 homes sold in the last three months for an average of £138,389, including 21 terraced homes and 13 flats.

• The cheapest homes in SY zone were in Llanfyllin, where detached homes were going for an average of £135,000. Telford's cheapest detached homes were going for an average of £107,000 in the Oakengates, Trench and Wrockwardine Wood areas.

By Business Editor Amy Bould