Northamptonshire Property Market Update – July 2023 NN29
Exploring the Surging House Prices in NN29: A Year of Remarkable Growth**
The real estate market in NN29 has witnessed an astonishing surge in house prices over the last year, leaving homeowners and potential buyers captivated by the region’s impressive growth. In this blog post, we will delve into the fascinating data on house prices in NN29, explore the types of properties that have dominated the market, and examine the factors contributing to this remarkable increase.
*The Magnificent Numbers*
The numbers don’t lie; the average house price in NN29 over the last year stood at an impressive £345,435. This represents a staggering 23% increase compared to the previous year and an even more remarkable 24% rise from the peak price of £277,822 in 2020. These soaring figures have undoubtedly caught the attention of both investors and potential homeowners, prompting many to wonder what might be driving this growth.
*Property Types in NN29*
To better understand the dynamics of the NN29 property market, it’s crucial to analyze the distribution of property types and their corresponding average prices. The majority of sales in NN29 were semi-detached properties, which commanded an average price of £303,384. Terraced properties, on the other hand, fetched an average of £237,257, while detached properties topped the list with an average price of £521,139.
Semi-detached properties seem to be the most sought-after, likely due to their attractive combination of space, privacy, and affordability. Detached properties, while the most expensive, offer unmatched luxury and often come with larger outdoor spaces. Terraced properties provide an attractive middle ground, making them appealing to those looking for a balance between budget and living space.
*Exploring Sold Properties*
In the last year, a total of 3,151 properties were sold in NN29. Let’s take a glimpse into some of the properties that changed hands and their selling prices:
|Date Sold||Address||Property Type||Price||Freehold/Leasehold|
|12 May 2023||130, London Road, Bozeat, Wellingborough, NN29 7JR||3 bed, semi-detached||£265,000||Freehold|
|20 Apr 2023||76, London Road, Bozeat, Wellingborough, NN29 7JR||Terraced||£150,000||Freehold|
|13 Apr 2023||17, Hinwick Road, Wollaston, Wellingborough, NN29 7QX||Terraced||£215,000||Freehold|
|6 Apr 2023||33, Saxon Rise, Irchester, Wellingborough, NN29 7AU||2 bed, semi-detached||£240,000||Freehold|
|31 Mar 2023||24, Wollaston Road, Bozeat, Wellingborough, NN29 7LT||2 bed, terraced||£233,000||Freehold|
|28 Mar 2023||1, Clayland Close, Bozeat, Wellingborough, NN29 7NT||3 bed, semi-detached||£237,000||Freehold|
|27 Mar 2023||9, Warren Close, Irchester, Wellingborough, NN29 7HF||3 bed, semi-detached||£205,000||Freehold|
|24 Mar 2023||13, Station Road, Irchester, Wellingborough, NN29 7EH||2 bed, terraced||£169,000||Freehold|
|24 Mar 2023||18, James Street, Irchester, Wellingborough, NN29 7BL||3 bed, semi-detached||£290,000||Freehold|
|20 Mar 2023||97, Hinwick Road, Wollaston, Wellingborough, NN29 7QY||2 bed, terraced||£250,000||Freehold|
|17 Mar 2023||58, Mill Road, Bozeat, Wellingborough, NN29 7JA||3 bed, semi-detached||£350,000||Freehold|
|17 Mar 2023||59, Queen Street, Bozeat, Wellingborough, NN29 7LA||2 bed, detached||£290,000||Freehold|
|14 Mar 2023||4, Goodens Lane, Great Doddington, Wellingborough, NN29 7TY||4 bed, detached||£575,000||Freehold|
|28 Feb 2023||110, Arkwright Road, Irchester, Wellingborough, NN29 7EF||3 bed, terraced||£228,500||Freehold|
|27 Feb 2023||121, Wollaston Road, Irchester, Wellingborough, NN29 7DD||4 bed, detached||£407,000||Freehold|
|23 Feb 2023||18, Howard Road, Wollaston, Wellingborough, NN29 7QZ||3 bed, terraced||£258,000||Freehold|
|23 Feb 2023||7, Puddingbag Lane, Bozeat, Wellingborough, NN29 7LN||1 bed, terraced||£180,000||Freehold|
|17 Feb 2023||157, Wollaston Road, Irchester, Wellingborough, NN29 7DD||3 bed, detached||£375,000||Freehold|
|17 Feb 2023||89, Saxon Rise, Irchester, Wellingborough, NN29 7AU||3 bed, terraced||£234,000||Freehold|
|17 Feb 2023||28, Wollaston Road, Irchester, Wellingborough, NN29 7DE||3 bed, semi-detached||£305,000||Freehold|
|9 Feb 2023||119, Wollaston Road, Irchester, Wellingborough, NN29 7DD||3 bed, detached||£380,000||Freehold|
|3 Feb 2023||38, Gipsy Lane, Irchester, Wellingborough, NN29 7DL||3 bed, detached||£440,000||Freehold|
|2 Feb 2023||110, London Road, Bozeat, Wellingborough, NN29 7JR||Detached||£249,000||Freehold|
|1 Feb 2023||33, Duck End, Wollaston, Wellingborough, NN29 7SH||2 bed, terraced||£188,000||Freehold|
|31 Jan 2023||182, Station Road, Irchester, Wellingborough, NN29 7EW||Detached||£695,000||Freehold|
*Understanding the Growth*
The dramatic increase in NN29’s house prices can be attributed to several key factors. Firstly, the region’s attractiveness as a residential location has grown due to its proximity to major cities and employment centers. This has drawn in a considerable number of homebuyers seeking a balance between suburban tranquility and urban accessibility.
Additionally, limited housing supply has played a role in driving up prices. As demand increases, the scarcity of available properties puts upward pressure on prices, creating a competitive market for potential buyers.
Lastly, the economic climate and prevailing interest rates may have contributed to the spike in house prices. Low-interest rates tend to make mortgages more affordable, enticing buyers to invest in properties, further fueling demand.
NN29 has experienced a phenomenal surge in house prices over the past year, leaving investors and homebuyers in awe of the region’s remarkable growth. The popularity of semi-detached properties, along with limited housing supply and favorable economic conditions, have all contributed to the surge in property prices. As the market continues to evolve, it will be intriguing to see how these trends unfold and what lies ahead for NN29’s real estate landscape. Whether you’re a homeowner looking to sell or a prospective buyer, staying informed about market dynamics will undoubtedly be key to making informed decisions in this dynamic property market.