publication date: Jan 8, 2014
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author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
Local property price analysis for Nottingham, Ruddington and Arnold
How is Ruddington in Nottingham Performing?
In Ruddington, the average price of a 2 bed traditional terraced property is around £130,000/£140,000 and traditional style 3 bed semis are around £170,000.
Agents in Ruddington have reported that they were extremely busy throughout the latter part of 2013 and between Christmas and New Year, and have continued to be very busy into the New Year.
There has been a massive increase in the number of buyers looking to purchase across the board, but also a significant increase in the number of first time buyers looking, particularly since the Help to Buy Scheme was announced. The demand is for all types and styles of property, but the period and Victorian properties are particularly popular.
Really good news is there are more properties coming to the market. Even better, sellers are remaining realistic about asking prices, which in some cases have increased very slightly on a previous valuation given last year, but that’s a good incentive for buyers and more sellers too!
Purchasers are making offers more quickly and closer to the asking price. As far as 2014 is concerned, they anticipate nice steady growth through the year.
How is the Arnold area of Nottingham performing?
In Arnold, the average price of 2 bed Victorian terrace properties are priced between £130,000 and £140,000 and 1930’s 3 bed semi between £130,000 and £150,000.
Arnold agents report they were very busy in the run up to Christmas, in between Christmas and New Year, and now in the New Year, are still very busy with purchasers, viewings and offers. Quite a mix of buyers, but with an increase in first time buyers and a number of small investors for buy to let properties. The increase in first time buyers has been down to the introduction of the Help to Buy Scheme, better mortgage rates and increased market confidence from first time buyers.
