We now have the Land Registry residential property completion prices in for October 2017 so it is time to see how house sales across the Vale of the White Horse were performing.
The headline for October 2017 was a slight decrease in year on year average prices, however, there was an increase in the sales volume.
Looking at October 2017 in isolation, the average completion price across all property types of Detached, Semi-Detached, Terraced and Flat/Maisonette is £376,647. This is a 1.96% drop on the same time a year ago.
The only property type to see a year on year average price increase were Detached properties, moving up by 1.33%
Volume of Completions
In terms of the number of completions for October we see a year on year drop of 42.03% but an encouraging 14.05% increase on September [insert link to report].
Terraced property where the only property type to show a year on year increase in completions with Semi-Detached properties seeing the highest drop in volumes.
Not unsurprisingly, the Land Registry figures support our experience of the months leading up to Christmas.
Looking forward, we experienced a significant increase in the level of enquiries both from prospective sellers and buyers during the opening few days of January. A number of these have turned into confirmed instructions so we wait to see if this higher level of activity is sustained.
The choice of available property remains low so those coming to market should remain optimistic. However, prices at which owners are prepared to sell need to be realistic as buyers are not easily parting with their money.
Looking out the window at the cold wet January days we admire the tenacity of those keen to find their next home and we welcome them into our warm and dry office for a brief respite from the weather.