The Slough property market wrap up
By Andrew Humphreys
As 2021 draws to end its safe to say there’s been a lot of ups and downs both in the Slough property market and the Slough community. In this blog we’ll break down what’s been happening in the Slough property market.
Let’s start with transactions…
This year Zoopla is reporting that 1 in 16 privately owned homes would have changed ownership, making it the most active market since 2007. So, what impact has this had on the price of property in Slough? The average price for a property in SL1 in December 2021 is £336,700, this is a fall of 0.72% in the final quarter of 2021 and across the whole of 2021 the average property in Slough dropped in value by 1.74%. This means in pounds and pence the average price of a flat in Slough is £219,355 and a terraced house is £321,129.
The supply of homes onto the market continues to be on the low, in fact the supply is 42% below the five-year average and for houses the stock volumes are 55% lower. Although early signs and historic trends would show that stock levels in the new year should pick up. With the stock levels being down there is a continued increase in buyer demand, in fact a 19% difference between demand now in Slough against the last 5 years average.
As the year wraps up, we’ve seen interest rates from lenders start to increase, they had hit an all-time low but over the past few weeks we’ve seen a few some lenders start to increase rates and early signs would show the rest of the market will follow suit. Halifax, Virgin Money and Scottish Widows have all pushed a selection of mortgages rates up.
So as 2021 draws to end, the Slough property market is in a good place. Demand remains strong and although interest rates are increasing, overall they still remain very low.
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