Property Market Update – Northampton NN1 – August 2023
**Exploring House Prices in NN1: A Snapshot of Property Trends**
The real estate landscape is ever-evolving, influenced by a multitude of factors that shape property values and sales trends. In the heart of this dynamic environment lies NN1, a region that has seen its fair share of fluctuations in house prices over the past year. Let’s dive into the details and uncover the intriguing story behind NN1’s property market.
**NN1 House Prices in Review**
The last year has showcased a noteworthy performance in NN1’s property market, with properties fetching an average price of £227,763. This statistic, an essential barometer of the local real estate scene, provides a snapshot of the area’s housing affordability and market activity.
**Property Types and Their Price Tags**
The distribution of property types has significantly impacted the average prices in NN1. Among the homes that changed hands over the past year, terraced properties have dominated the market. On average, these cozy dwellings commanded a price of £260,168, making them a popular choice among buyers seeking a harmonious blend of comfort and affordability.
Flats, another prevalent property type in NN1, boasted an average price of £145,302, while semi-detached properties commanded a higher average of £347,929. This diverse mix of property types has undoubtedly contributed to the tapestry of NN1’s real estate market.
**Trends Over Time**
Delving into the historical context, it’s apparent that NN1’s housing prices have experienced notable fluctuations. Over the last year, prices have surged by 2%, building upon the previous year’s foundation. This progress is even more remarkable when compared to the 2020 peak, where prices reached £200,349. Since then, NN1’s property market has ascended by an impressive 14%, underscoring the region’s resilience and potential for growth.
**Unveiling the Sold Properties**
A glimpse into the properties that recently changed hands reveals a diverse array of homes, each with its own unique story to tell. Let’s take a brief look at some of these sold properties:
1. **25, The Avenue, Cliftonville, Northampton, West Northamptonshire NN1 5BT**
– Property: 3-bedroom detached house
– Price: £320,100
– Date Sold: 9 Jun 2023
– Tenure: Freehold
2. **Flat 1, 78, Cowper Street, Northampton, West Northamptonshire NN1 3QR**
– Property: Flat
– Price: £170,000
– Date Sold: 6 Jun 2023
– Tenure: Leasehold
3. **Flat 6, Gaiter & Spat, 1, Ethel Street, Northampton, West Northamptonshire NN1 5ER**
– Property: Flat
– Price: £230,000
– Date Sold: 2 Jun 2023
– Tenure: Leasehold
4. **Flat 11, Willow House, 5, Lea Road, Northampton, West Northamptonshire NN1 4PP**
– Property: Flat
– Price: £93,000
– Date Sold: 31 May 2023
– Tenure: Leasehold
5. **15, Clare Street, Northampton, West Northamptonshire NN1 3JE**
– Property: 3-bedroom terraced house
– Price: £180,000
– Date Sold: 30 May 2023
– Tenure: Freehold
**In Closing**
NN1’s real estate market is a captivating tapestry of property types, historical price shifts, and unique dwellings. With an overall upward trend in prices over the past year, this area showcases the enduring allure of property investment. Whether you’re a buyer, seller, or simply an observer of property trends, NN1 offers a rich landscape to explore and appreciate. Keep an eye on this vibrant market as it continues to evolve and shape the dreams and aspirations of its residents and investors alike.