Property Market Update: Northampton NN1 Shows Steady Growth and Terraced Homes Dominate
Introduction:
The property market in NN1, Northampton, West Northamptonshire has experienced a positive trend over the past year. With a diverse range of properties and steadily increasing prices, NN1 offers an attractive landscape for both buyers and sellers. In this blog post, we will delve into the recent property sales data to provide an overview of the market’s performance and highlight the dominant property types in the area.
NN1 Property Prices:
Over the last year, NN1 has witnessed a commendable rise in property prices. The overall average price for properties in NN1 reached £234,879, which marks a 5% increase compared to the previous year and a significant 17% increase from the 2020 peak of £200,349. These figures indicate a thriving market, instilling confidence in homeowners and investors alike.
Terraced Properties Take the Lead:
Among the various property types available, terraced properties emerged as the most popular choice for buyers in NN1. With an average price of £265,483, these homes have captured the attention of prospective buyers looking for affordable and spacious living options. Terraced properties offer a perfect blend of comfort, functionality, and community living, making them an attractive proposition in the NN1 market.
Semi-Detached Properties Command Premium Prices:
Semi-detached properties, while fewer in number, have shown their desirability by fetching higher prices. With an average price of £343,133, these homes provide additional space and often come with gardens, making them particularly appealing to families. The higher price tag reflects the added benefits and potential for long-term value appreciation.
Flats: Affordable Living Options:
Flats, on the other hand, offer a more affordable entry point into the NN1 property market. With an average price of £149,874, flats are a popular choice for first-time buyers and those seeking a low-maintenance lifestyle. The competitive pricing of flats allows buyers to enter the property market without compromising on location or convenience.
NN1 Property Sales Snapshot:
Examining the sold properties in NN1 over the last year, we find a variety of transactions that highlight the range of options available to buyers. Let’s take a closer look at a few notable sales:
1. 10, Rushmere Crescent, NN1 5SA: This 2-bedroom detached property was sold for £450,000 on 5th April 2023, showcasing the demand for spacious homes with privacy.
2. Flat 120, Alpha House, Broad Street, NN1 2HS: A 2-bedroom flat was sold for £130,000 on 31st March 2023, reflecting the affordability and convenience of apartment living.
3. 42, Ashburnham Road, NN1 4QY: This 3-bedroom terraced property changed hands for £253,000 on 31st March 2023, exemplifying the popularity of terraced homes.
Conclusion:
The property market in NN1, Northampton, West Northamptonshire, has experienced a healthy growth trajectory over the past year. With a 5% increase in average property prices, NN1 demonstrates its resilience and attractiveness to both buyers and sellers. Terraced properties have emerged as the preferred choice, offering a balance between affordability and space, while semi-detached properties command higher prices due to their added benefits. Flats remain a popular option for those seeking affordable and low-maintenance living. With NN1’s promising property market, it is an opportune time for buyers and investors to explore the diverse range of properties on offer in this vibrant area.