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Housing market surging as Shropshire proves good value

By James Pugh | Property | Published:

An estate agency has said homebuyers are finding Shropshire an attractive place to live after seeing a surge in the housing market since lockdown.

Upper Norncott near Craven Arms exceeded its guide price by five per cent

Alistair Hilton, head of sales at Balfours, said there had been a big increase in viewings and offers as people are getting good value for their money in properties in the county.

It comes as homes in the West Midlands are going for as much as £30,000 more than their asking price as the housing market booms after the coronavirus lockdown.

Upper Norncott near Craven Arms was on the market for £650,000 and exceeded its guide price by five per cent.

It reflects the position nationally where the cost of a house in the UK rose by a little more than £3,000 last month as the property market hit new highs.

Mr Hilton said: “The market has picked up dramatically, seeing a leap from 25 per cent to 130 per cent on main market ‘key point indicators’ namely: viewings, market appraisals, instructions and offers.

“The market is far beyond what I deem to be a normal trading market – lockdown crystallised a move away from urban to rural, plus the stamp duty holiday fanning the market upwards. Every other sale is at asking or above.

“I believe Shropshire has generally been under-priced compared to the national market.

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“The county is now getting more and more exposure – people are finding Shropshire good value and a good place to live.

Alistair Hilton

“Homebuyers can capitalise on a county offering value to those that are moving out of more expensive areas including the south east and urban clusters.”

Looking ahead, Mr Hilton predicts the housing market could continue to grow in the next 18 months.

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“Because we are in a rising market in an area that still has growth compared to other areas, the market should grow," he added.

“Indeed, if the migration urban to rural continues we could see this continue for the next 12 to 18 months.

"We are obviously in technical recession but the economy is bouncing back with a lot of people going back to work.

"Of course another spike and lockdown means we remain in unchartered territory – but five months ago no one would have predicted Shropshire to have such a positive property market."

James Pugh

By James Pugh

Shropshire Star Business and Farming Editor.

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