Property Market Update – Northampton NN2 – July 2023
A Comprehensive Look at House Prices in NN2: A Steady Rise in the Market
Introduction:
The property market in NN2 has witnessed significant growth over the past year, with house prices showing a steady increase. In this blog post, we will delve into the details of house prices in NN2, exploring the average prices for different property types and analyzing recent sales data. Whether you’re a potential buyer, seller, or simply interested in the local housing market, this overview will provide valuable insights into the NN2 property landscape.
Overview of House Prices:
Over the last year, the average house price in NN2 stood at £277,596. This represents a 4% increase compared to the previous year and a remarkable 17% surge from the peak of £236,650 recorded in 2020. These figures highlight the robust nature of the NN2 housing market and its attractiveness to both buyers and investors.
Property Types and Average Prices:
Terraced properties dominated the sales in NN2 during the last year, with an average price of £236,435. The appeal of terraced houses stems from their affordability and suitability for various demographics, making them a popular choice for first-time buyers and small families.
Semi-detached properties, on the other hand, commanded an average price of £272,181. With a wider range of living spaces and potential for expansion, these properties offer a balance between affordability and additional space.
Detached properties, though fewer in number, boasted an average price of £420,015. Detached houses are often sought after by families looking for more substantial living spaces and greater privacy.
Recent Sales Data:
To gain a more granular understanding of the market, let’s analyze some recent property sales in NN2:
1. 136, Lower Adelaide Street, NN2 6BB – This two-bedroom terraced property was sold for £169,000 on 20th April 2023. Previous sales records show a steady increase in value, indicating a promising investment.
2. 97, Reynard Way, NN2 8QS – A three-bedroom semi-detached house sold for £245,000 on 3rd April 2023. The property previously changed hands at £114,000 in June 2002, reflecting substantial growth in value over time.
3. 9, Tarry Way, Boughton, NN2 8GP – Another three-bedroom semi-detached property sold for £255,000 on 3rd April 2023. This property was a new build, demonstrating the demand for modern homes in the area.
Conclusion:
The housing market in NN2 has experienced a positive trajectory over the past year, with house prices showing significant growth. Terraced properties, with their affordable price points, have been particularly popular among buyers. Semi-detached and detached properties have also commanded respectable average prices, attracting families and those seeking larger living spaces.
As the average house price in NN2 continues to rise, it presents an encouraging outlook for potential buyers and sellers alike. The market’s stability and consistent growth make it an attractive investment opportunity. However, it is essential for buyers to conduct thorough research and work with experienced professionals to navigate the market successfully.
Whether you’re looking to purchase your dream home or explore investment opportunities, the NN2 housing market provides a promising landscape with steady price appreciation. By staying informed and understanding the local trends, you can make well-informed decisions and take advantage of the opportunities available in this vibrant property market.