Regional Property Market Update Autumn 2021: East Midlands
Price growth strong across all regions
Annual property price growth in the East Midlands is significantly stronger than a year ago, as the shortage of property to buy continues to support prices. Agents across the region report the current sales to stock ratio remains high (RICS), with properties selling in just 34 days (Rightmove).
Double-digit property price growth is evident in 28 areas of the East Midlands. Derbyshire Dales and North East Derbyshire are currently the strongest performing areas.
Surge in sales
It is estimated 880,000 property sales took place across the UK in the first six months of 2021, the highest half year total ever recorded and 50% higher than the same period in 2019 (HMRC). It is anticipated sales will top 1.5 million over the course of the year. Buyers have been spurred on by a desire for change and financial savings as a result of taxation ‘holidays’, with over 60% paying no tax on their purchase.
In the East Midlands, the most active housing markets over the past year have been in Harborough and South Northamptonshire.
Space to be
The search for space continues to drive many buying decisions. As businesses adopt more flexible ways of working, blended working patterns are set to become the norm for many, and personal wellbeing has shot up the agenda. The local environment, gardens, greater internal square footage and a demarcated space to work from home, all continue to be deemed more important property features in a new home.
Properties for sale in the East Midlands region of the UK
Market Harborough, Leicestershire, 4 bedrooms
This extended four-bedroom family home occupies a generous corner plot with wrap-around gardens to the front and side. Inside, the home provide a spacious open-plan kitchen, dining and living room, ideal for modern family living. The property also offers off-road parking and a garage.
Rushden, Northamptonshire, 5 bedrooms
This stylish and contemporary family home offers a sun-worshipper's paradise in the rear garden, where there is plenty of entertaining space with an open aspect across the fields beyond. The current owners have transformed the original house to provide a wonderful kitchen with a huge island/breakfast bar, complemented by a Range oven and pantry/larder. In this five-bedroom home, there is also a family and dining area, which offer two roof lanterns and two sets of bifold doors overlooking the rear garden.
Epworth, Lincolnshire, 5 bedrooms
This outstanding executive detached family home is situated within a well establish and highly regarded development that comes within walking distance to the town centre. The beautifully presented and versatile accommodation comprises an entrance hallway, a cloakroom, a fine main living room, a study, a formal dining room, a stylish fitted kitchen, a utility room and a rear sun room.
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Make the most of double-digit property price growth with the best estate agent in your area. Contact your local Guild Member today.
