Home Prices in Cheshire Bend National Trend as Buyers Shift to ‘Newer Towns’ Over ‘Historic Towns’

House prices in Cheshire are going against the national trend, as prices in “new” towns like Runcorn and Warrington are rising faster than in historic towns like Chester.

The news comes after real estate and rental agent Barrows and Forrester analyzed real estate market data over the past year in 15 historic real estate market pockets and 15 that were created more recently.

The study found that the average house price in historic housing markets has risen 9.4% over the past year, with the average house price currently standing at £ 251,841.

Historic cities such as Durham, Exeter and Oxford recorded increases of 15.5%, 13.6% and 11.8% respectively.

While more recent cities developed after 1946 including Milton Keynes, Peterborough and Bracknell were slower at 5.2%, 5.5% and 6%.

However, Runcorn and Warrington – classified as new towns, turned the tide and grew 14.9% and 9.8% from last year, while historic Chester only managed a growth of 5, 9%.

These data suggest that the demand for homes in newer towns in Cheshire exceeds that in more historic areas like Chester.

Barrows and Forrester Managing Director James Forrester commented: “We are incredibly lucky to live in a country that is steeped in such a rich history and as a result we have beautiful historic towns in all areas of the market. immovable. .

“There are also a lot of formations that have formed quite recently due to a surge in population and the need for more housing and it is interesting to see how the two differ when it comes to real estate values.

“Sure, newer towns, with a newer housing stock, are likely to charge a higher price in general, but our research shows that historic towns have been overwhelmingly preferred over the past year, at least. , house prices rising at a much faster rate. “

Do you have something to say about this story? Let us know.



Here are the latest stories from the CheshireLive newsletter

Want to sign up to receive these stories straight to your inbox? It’s free and means you’ll never miss the most important Cheshire news of the day

You can register here

You are not registered but want to try it?

You can read a preview of today’s newsletter here


Source link

About Mary Moser

Mary Moser

Check Also

Kennedy Wilson acquires first suburban London office campus for $ 66 million

BEVERLY HILLS, Calif .– (COMMERCIAL THREAD) – Global real estate investment firm Kennedy Wilson (NYSE: …

Leave a Reply

Your email address will not be published. Required fields are marked *