Nottingham House Prices 2022

Happy New Year to all!

As we enter a 2022 we thought we’d take a look back at the previous year and provide our predictions for Nottingham house prices in 2022.

After the multiple COVID-19 lockdowns, the property market began to boom. We saw house prices growing faster than any point since 2007 and most home owners added at least 13 per cent on to the value of their property.

Over the 2021 Christmas period, the housing market naturally slowed as it always does. However, there has already been a boost in the first week of January and we have high predictions for the year ahead.

2022 House Price Predictions

Toward the end of 2021 there was a distinct lack of stock on the market as sellers seemed hesitant to sell; likely due to the changing COVID restrictions. This created a bidding war between buyers who were all attempting to buy the same properties.

Hometrack report that, on average, this added £16,000 to the value of every property across the country.

We predict that supply/demand will begin to balance out, as more people look to move and make a fresh start in 2022. This means house prices will continue to grow, but not as quickly as they did last year.

The average UK property price now stands at £240,800 and we predict further growth in 2022 of between 3 and 5 per cent.

Nottingham Property Market

Looking closely at the Nottingham property market, Nottingham house price growth is still incredibly strong. For years now, Nottingham has ranked in the top 3 across the country for property price growth and the end of 2021 was no exception.

The city ranked 3rd for growth in the last 12 months at 8.1 per cent. This is just behind Manchester at 8.5 per cent and Liverpool at 10.7 per cent.

Nottingham was also top across the UK for house price growth in the last 3 months with further growth of 1.5 per cent. This was closely followed by Leicester and Liverpool, both at 1.3 per cent.

The average Nottingham property price is now £180,700.

Key Property Facts

Looking back at 2021, here are some key facts to support our positive outlook for property in 2022.

  • Valuation enquiries over the Christmas period were up 19 per cent year on year, meaning more stock should be coming to market very soon
  • For those looking to sell, buyer numbers are up 41 per cent on 2019, according to Rightmove, and up 3 per cent on 2020
  • 2021 saw the highest amount of completed property sales since 2007
  • The average time between listing a property and agreeing a sale has dropped from 50 days to 30 days – a drop of 40 per cent.

How much is your property worth?

Are you ready to make the most of the 2022 property market conditions?

Find out how much your property is worth below, or call us on 0115 924 3304.

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    House prices see strongest rise since 2007

    September has seen the strongest rise in house prices in 14 years, according to the Halifax. This has pushed values to a new record high.

    Last month, the average cost of a home rose by 1.7 per cent, or £4,425. This means that the average UK property price now stands at £267,587.

    “The average house price is now as expensive as it ever has been,” said Russell Galley, the managing director of Halifax.

    Prices are up by more than £18,000 since last September and almost £28,000 higher than last June when the housing market reopened after the first COVID lockdown.

    This is likely to have been down to the “race for space” as many people looked to up-size with a change of lifestyle following COVID.

    There is also still a major supply shortage with properties coming to market. This is creating a bidding war with potential buyers and pushing house prices up further.

    Due to this, Walton & Allen are seeing major interest in all properties coming to market.

    Nottingham house prices

    12 month price growth

    Looking at Nottingham specifically, house prices have risen by 7.3 per cent in the last twelve months (Hometrack). To put this into perspective, this is now how much your property could be worth since September 2020.

    £150,000 > £160,950 (+£10,950)
    £250,000 > £268,250 (+£18,250)
    £350,000 > £375,550 (+£25,550)
    £450,000 > £482,850 (+£32,850)
    £550.000 > £590,150 (£+40,150)

    10 year price growth

    Looking at data from Zoopla, the average Nottingham property price is now £183,188. Ten years ago this price stood at £102,946 – an increase of 53.13 per cent! If you bought a property around 2011 then this could be how much it is now worth:

    £50,000 > £76,565 (+£26,565)
    £100,000 > £153,130 (+£53,130)
    £200,000 > £306,260 (+£106,260)
    £300,000 > £459,390 (+£159,390)
    £400,000 > £612,520 (+£212,520)

    How much money have you made?

    Find out how much money you have made by requesting a free property valuation. There’s no obligation to put your home on the market.

    Call us today on 0115 924 3304 or use the form below.

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      House prices 13 per cent higher than pre-pandemic levels

      House prices are now 13 per cent higher than before the COVID-19 pandemic. This has defied all predictions of a housing market crash and has even continued past the end of the stamp duty holiday.

      This is according to Robert Gardner, Nationwide’s chief economist.

      In August, the average UK house price rose to £248,857, a huge increase of over £5,000.

      Despite the large jump in value, some people looking to move are still reluctant to place their house on the market. This means demand is massively outweighing supply and creating a bidding war between buyers.

      Mortgage rates have also dropped dramatically, meaning buyers have confidence to go after the property of their dreams.

      Historic property price changes

      The graph below details how property prices have changed since 2007.

      The huge dip in 2008 related to the credit crunch and it was expected that there would be another dip during the pandemic.

      In reality, the graph shows one of the steepest rises in prices in the last 14 years.

      Source: ONS

      house price index

      Nottingham house prices

      House prices in Nottingham have seen some of the strongest rises across the whole of the UK for several years now.

      In the last 3 months, Nottingham ranked second in the country for house price growth at +1.4 per cent.

      The average property price in Nottingham now stands at £172,100.

      How much is your property now worth?

      How much is your property now worth after this increase? Are you ready to make the most of this rise and put your house on the market?

      For a free, no obligation valuation, call Walton & Allen estate agents in 0115 924 3304. Alternatively, use the valuation form below.

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        Estate Agents Sherwood

        Estate Agents Sherwood

        Looking to sell your property with estate agents Sherwood?

        The average house price in Sherwood, Nottingham, is currently £167,127. This is an increase in value of 1.42% since last year. Estate agents note that terraced houses in Sherwood have sold recently for an average price of £137,827.

        Most house sales in Sherwood involve either semi-detached houses or terraced houses. Their prices are similar to nearby Carrington but more expensive than Basford.

        A home which is selling for more money than the average price is this property on Sheridan Way in Sherwood. This is a mid townhouse with 3 bedrooms, parking at the front and a great rear garden. It also boasts a downstairs WC and is presented in great condition.

        estate agents sherwood sherwood estate agents

        About Sherwood

        The town of Sherwood is a thriving area with a population of 15,414 as of the 2011 census. Moreover, it is around a 10 minute drive from Nottingham city centre and boasts many local shops, pubs, restaurants and other amenities. Given this, there are also many bus routes which pass through the town. The town of Sherwood also borders Woodthrope, Mapperley, Carrington, Basford and Bestwood. Sherwood is represented by Nottingham City Council although it borders with Gedling Borough Council.

        Nearby Woodthorpe Grange Park is a beautiful open space which houses a cafe, play park, tropical house and pitch and putt.

        Sherwood has a thriving arts scene and as a result hosts Sherwood Art Week every year at the Sherwood Community Centre. The town centre is also on the up. Numerous  bars and restaurants have appeared over the last few years which has turned the high street into a thriving area to eat and drink.

        Sherwood is located here in Nottingham

        Sherwood Property Valuations

        Walton & Allen estate agents offer property valuations to ensure you get the best price for your property. With this in mind, if you own a property in Sherwood, why not book in a free, no obligation valuation? Call 0115 924 3304 or use the form below.

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          Sherwood Mortgage Advice

          If you’re looking to buy a house in the Sherwood area then it would be best to speak to a mortgage advisor to ensure you save money on a mortgage deal. Whats more, our mortgage advice is completely independent and initial meetings are free of charge. This means you can compare the whole of the mortgage market which you would not be able to do at your bank.

          Book a Sherwood mortgage advice appointment today

          So, why not talk to our recommended mortgage brokers by calling 0115 9243304? Simultaneously, you can use the below form to talk to us.

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            Mortgage and Protection advice is provided through our association with the mortgage brokers at Premier Mortgage Services (Nottingham) Ltd. A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

            About Walton & Allen Estate Agents Nottingham

            Walton & Allen Estate Agents in Nottingham city come highly recommended for free valuations and when marketing properties. Firstly, we are a traditional high street agent with a modern approach and offer many property services under one roof to make your property sale as smooth as possible. Our property services include property sales, lettings, property investment, mortgage advice and block management. In addition, our team are extremely hard working and will always strive to achieve the best price for your property in as short an amount of time as possible.

            Above all, we offer a no sale – no fee service! This means that you will not pay a penny to us until your property has sold.

            To conclude, if you aren’t talking to Walton & Allen Estate Agents about selling your property then what are you waiting for?! Call 0115 924 3304 to chat to us now. We’re happy to help in any way we can.

            How does it work when you sell your property?

            Walton & Allen Estate Agents in Sherwood provide a full end-to-end service when it comes to selling your property. There are no hidden fees and everything is transparent.

            Once you have your Sherwood property valued, we will look at marketing your property both online and in our branch windows, for a very competitive fee. Where possible, we will handle all viewings for you and negotiate on offers to ensure you get the best possible price for your property.

            Once a sale has been agreed, we will follow the sale through to completion, pushing it along with your solicitors as quickly as possible for you. 

            If you have any questions, feel free to ask. We’re always happy to help. We know the Sherwood property market extremely well after all.

            Best Estate Agents in Nottingham 2021

            Rated best estate agents in Nottingham

            Walton & Allen estate agents in Nottingham are delighted to announce they have been ranked as one of the best estate agents in Nottingham.

            Rightmove have listed us in the Best Estate Agent Guide 2021 for ranking in the top 5% of all UK letting agents. This is for performance, customer service and property marketing.

            To do this they conduct the ‘biggest mystery shopping review process ever undertaken of the property industry’.

            The criteria they looked for is as follows:

            • How well properties perform and are marketed on Rightmove
            • Time taken for the listing to go ‘SSTC’ or ‘Let Agreed’.
            • How good the customer service is via email and telephone
            • Market share compared to other agents

            Analysing over 25,000 branches across the UK, Walton & Allen featured in the top 5%.

            Walton & Allen achieved the “Exceptional” rating. According to the Best Estate Agent Guide, branches with this rating ‘showed an outstanding level of service and care towards prospective clients’.

            As estate agents and letting agents we aim to provide the best possible experience for anyone looking to sell their property, let their property or gain independent mortgage advice. For this reason, we are extremely proud to have been recognised as one of the best estate agents in Nottingham.

            Walton & Allen is fully regulated by the Property Redress Scheme and we are members of NAEA and ARLA, the professional bodies for the property industry.

            best estate agents in nottingham

            Free property valuations

            To book a free property valuation and to find out what we can do for your property, enter your details below.

            Alternatively, you can also call our office on 0115 924 3304.

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              So, what are you waiting for?! Contact Walton & Allen who are the best estate agents in Nottingham.

              Find out how we can sell your home.

              About Walton & Allen Estate Agents

              Walton & Allen were established in 2000 and have decades of combined experience working within the property industry. We provide property sales, lettings and mortgage advice throughout Nottingham. Furthermore, we have a huge active buyer database, meaning we can sell your property quickly and for the best possible price.

              Eviction rule changes

              The government have now changed eviction rules, effective from 1st June 2021. Since the beginning of the COVID-19 pandemic, rules were changed which meant landlords have to give tenants a six month notice period. This notice period covered every situation, even if a tenant was not paying rent.  Whilst this was helpful for many tenants, some landlords expressed concern.

              Now the UK is slowly easing lockdown restrictions and the eviction rules have also changed. Some notice periods have reduced, however they are not yet returning to the same pre-pandemic levels.

              As of 1st June, notice periods that were at six months have now reduced to four months. The following will apply:

              Anti-social behaviour will reduce to 4 weeks’ notice and domestic abuse in the social sector will reduce to 2-4 weeks’ notice. In addition, false statement will reduce to  2 to 4 weeks’ notice.

              If the tenant has been in arrears for over 4 months’ then 4 weeks’ notice can now be given.  A breach of immigration rules will reduce to 2 weeks’ notice and the death of tenant 2 months’ notice.

              Where there is over four months of rent arrears, the notice period will reduce to two months from 1st August 2021. 

              Housing Minister, Chris Pincher said “The measures will ensure renters continue to be protected with longer notice periods for the coming months, while allowing landlords to access justice – 45 per cent of private landlords own just one property and are highly vulnerable to rent arrears.”

              In March 2020 the UK government also introduced a ban on bailiff-enforced evictions. This ban has also now been lifted, meaning many landlords can begin to reposess properties with problem tenants.

              The government have been working towards making the private rented sector better for tenants for some time.

              Later this year they will be conducting a full review of Section 21 evictions, meaning the future of repossessing property could be re-shaped completely. 

              Estate Agents Bestwood Village

              Estate Agents Bestwood Village

              Walton & Allen are estate and letting agents in Bestwood Village and across Nottingham. We provide property sales, lettings and mortgage advice to many home owners and first time buyers.

              Walton & Allen: One of the top performing estate agents in Bestwood Village

              Bestwood Village, Nottinghamshire, was once a colliery village. With recent development it is now classed as a more affluent area of Nottingham.

              The village is close to Hucknall, Bulwell and Top Valley and also very near to Bestwood Country Park.

              Our estate agency in Nottingham sold a wonderful end terraced house on St Albans Road. It is in immaculate condition and features two bedrooms, plus a loft room. The fact this property also has no onward chain is also very appealing for buyers. This Bestwood Village property is currently on the market for a guide price of £125,000 -£135,000.

              estate agents bestwood villagebestwood village propertybestwood village

              We also produced a virtual reality 360 video tour of this property. You can view it on YouTube by clicking on the video here, or by going into one of our estate agent branches.
              Please be aware that you must view this video on the YouTube app if reading this article on a smartphone.

              Why buy property in Bestwood Village?

              Bestwood Village sits very close to Bestwood Country Park which offers over 650 acres of green space. There are also excellent transport links with the nearest NET Tram system only 15 minutes walk away in nearby Bulwell. The current average property value in the area stands at £166,350, which has increased by over 1% since last year.

              How much is your house worth?

              Why not find out how much your property is worth in and around the Bestwood Village and Nottingham area? You can talk to our Senior Valuers today by calling 0115 924 3304 or alternatively use the form below. Our expert sales team aim to get the best price possible for your property and will give you an accurate valuation either in person or over the phone.

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                Bestwood Village Mortgage Advice

                Looking for mortgage advice? We provide initial free mortgage advice to compare the whole of the mortgage market. You may be able to save some money when we look at deals that are suitable for you. You can talk to our recommended mortgage broker by using the form below to arrange a callback, or just to ask questions.

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                  A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

                  Rightmove’s busiest day in history March 2021

                  3rd March 2021 was the busiest day in Rightmove’s history thanks to budget announcements by Chancellor Rishi Sunak.

                  Visits to the website surpassed 9 million hits, which is the highest for a single day than ever before. Hits were also 6 per cent higher than visits after the summer budget on 8th July 2020.

                  It is likely that this increased traffic was due to the extension in stamp duty and the announcement of mortgage help for first time buyers with 5 per cent deposits.

                  Analysis now states that sellers should bring their home to market by 23rd March 2021 at the very latest to make use of the cuts in stamp duty.

                  Nottingham house prices still up

                  Analysis by Hometrack states that Nottingham house prices are up 5.8 per cent in the last 12 months. They also rose by 1 per cent in the last 3 months alone.

                  Now could be the best time to sell

                  With a huge increase in buyer demand and house prices still high, now could be the perfect time to put your property on the market.

                  You can find out how much your property is worth for free by calling us on 0115 924 3304 or using the form below.

                  You can also use our online valuation tool.

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                    Stamp duty holiday set to be extended

                    Rishi Sunak is reportedly preparing to extend the stamp duty holiday to June 2021.

                    It is important to note that this is not yet official. We will find out if this is the case on 3rd March when the chancellor announces his spring budget.

                    Sunak first announced a break in stamp duty in July 2020 to help boost the property market following the first Coronavirus lockdown.

                    The vast majority of those purchasing a house at below £500,000 have been made exempt from paying the tax, although those looking to purchase as a buy to let still have to pay 3 per cent of the sale price.

                    Huge increase in property sales

                    It is thought that one of the reasons for the extension is that there have been conveyancing delays following a huge increase in property sales. This could result in many missing the original deadline of the end of March 2021.

                    A report by the Centre for Policy Studies (CPS) has claimed that the stamp duty cut had rocketed the number of house sales to their highest level since before the 2007 financial crisis.

                    The number of transactions increased from 132,090 in 2020 Quarter 2 to 225,870 in Q3. This then increase further to 316,300 at the end of Q4.

                    As a result, the Centre for Policy Studies has suggested that the government permanently increase the stamp duty threshold to £500,000 or abolish the tax altogether.

                    This may be a big ask as the current scheme has seen the government lose over £1 billion in revenue.

                    Should you be looking to move?

                    At Walton & Allen we have seen a huge influx in both properties coming to market and potential buyers looking to move.

                    Nottingham house prices have also risen by another 5.8 per cent over 2020 (Hometrack) which, combined with the stamp duty cuts, makes selling a Nottingham home very appealing right now.

                    How much is your property worth?

                    Find out today by calling our Senior Valuer, Richard, on 0115 924 3304. You can also fill in the form below to get an up to date valuation on your property.

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                      Walton & Allen featured in Best Estate Agent Guide

                      Walton & Allen has now been featured in the Best Estate Agent Guide for two years running in 2021 and 2022.

                      The Best Estate Agent Guide is an independent company which surveys estate and letting agents across the country. They have teamed up with Rightmove to map out the perfect customer experience for sales and lettings across the country.

                      To do this they conduct the ‘biggest mystery shopping review process ever undertaken of the property industry’.

                      The criteria they looked for is as follows:

                      • How well properties perform and are marketed on Rightmove
                      • Time taken for the listing to go ‘SSTC’ or ‘Let Agreed’.
                      • How good the customer service is via email and telephone
                      • Market share compared to other agents

                      Analysing over 25,000 branches across the UK, Walton & Allen featured in the top 10%.

                      Walton & Allen achieved the “Exceptional” and “Excellent” ratings. According to the Best Estate Agent Guide, branches with this rating ‘showed an outstanding level of service and care towards prospective clients’.

                      You can find out more by going to their official website, www.bestestateagentguide.co.uk.

                      Do you have a property to sell or to rent out to tenants? Call us today on 0115 924 3304 or email info@waltonandallen.co.uk to see how we can help you too.