A study by QuickMove has looked at which homes are selling fastest, which is a vital issue to consider with the stamp duty holiday deadline.
The study reveals the best areas to sell property hold an average asking prices of less than £500,000.
According to Rightmove, “Properties in Royston had an overall average price of £353,898 over the last year. The majority of sales in Royston during the last year were terraced properties, selling for an average price of £293,389. Detached properties sold for an average of £595,381, with flats fetching £178,115. Overall, sold prices in Royston over the last year were similar to the previous year and 7% up on the 2016 peak of £330,859.”
The right homes are moving quickly now
Danny Luke, Quick Move Now’s managing director, commented: “Despite grave concern about how the property market would fair during the COVID pandemic, there are some very positive signs. Overall, a property in England or Wales typically now sits on the market for 41 days less than it did in March of this year. Properties in the best areas to sell are removed from the market in an average of 35 to 45 days. Back in March of this year, properties in the best areas to sell typically stayed on the market for 46 to 65 days. It is important to note, however, that stock levels are significantly lower than they were this time last year.”
Danny continued by saying; “At the other end of the spectrum, we can see that the prime residential market is not doing quite so well. Increased home-working, less secure employment and a drop in demand for flats could all be contributing to the typical time on market for the ten worst areas to sell a property.”
Danny concluded by saying; “We will also have to wait to see what effect stricter lending criteria for first-time buyers has on the market. Although many movers have been encouraged by stamp duty measures, first-time buyers are the lifeblood of a property market. Without them, many second- and third-time buyers will find their options severely limited.”
Royston is suitable for buyers during the London exodus
Doug Shephard, director at home.co.uk, adds: “It is highly noteworthy that, despite the COVID driven exodus from central urban areas, the more leafy suburbs of London remain highly popular with homebuyers. So too are the well-connected property-boom towns of Ashford, Bristol and Sale. However, Prime Central London is clearly not the place to sell right now. In prestigious London Boroughs such as Kensington and Chelsea and the City of Westminster a glut of ex-short-term lets has already crashed rental values and rapidly rising sales stock levels look set to drive down capital values.”
If you take the right train, the travel time between Royston and London St Pancras International is only 50 minutes.
The travel time between Ashford and London is just under 40 minutes, Bristol and London is at least 90 minutes by train, and the train trip between Sale and London requires a connection in Manchester and can take as long as three hours.
If these destinations are being listed as viable locations for professionals and households in the current climate, there is a discussion to be had over the suitability of Royston.
At Country Properties, we believe the price, setting and diversity of housing options in and around Royston takes it an excellent choice. If you would like to know more about the local area, or you are a Royston homeowner looking to arrange a property valuation, we are here to assist you.
In line with Government guidelines, our Royston branch is open and is staffed with sales and lettings personnel. If you have any queries or need advice on property sales and lettings then please call 01763 245121 or email email@example.com.