Cheshire Charm Prevails
Published 29/12/2023
Rising Property Values Amidst Shifting Trends
In a real estate landscape marked by stability, Cheshire, particularly Knutsford and its surrounding area, emerges as a standout performer, defying national trends and providing a compelling story of growth and opportunity.
From August 2022 to 2023, despite house prices falling in many areas, England as a whole witnessed a flatlining, with the average sold prices resting at £310,000. Similarly, the North West maintained a steady state, with average house prices at £234,000. However, the jewel in this regional crown is Knutsford and its surrounding areas, where the property market has bucked the national trend. Here, the average house prices rising 15% year on year from 2022 have not just held their ground but have seen a significant increase, reinforcing the enduring appeal of this picturesque locale.
Market Insights
What makes Knutsford and its environs truly remarkable is that this growth is not confined to a specific property type. Whether semi-detached, terraced, or detached properties, all categories have experienced an uptick in value, creating a market that caters to a broad spectrum of homebuyers.
Cheshire’s strategic location adds another layer of appeal to this thriving real estate market. Nestled in the heart of the North West, it boasts unrivalled transport connectivity. With easy access to major motorways, proximity to Manchester Airport, and direct train routes, Cheshire has become a magnet for those seeking a well-connected lifestyle which compared to London is affordable to a wider range of home buyers.
Delving into the historical context, Knutsford, Wilmslow, Altrincham & Alderley Edge have been on an upward trajectory pre-dating the challenges posed by the pandemic. Since 2015 average house prices in these locations nearly doubled, establishing them as not just an appealing housing destination but a sound investment.
As we navigate the current landscape, the real estate market in Cheshire appears poised for further growth. With interest rates showing signs of stability and a steady influx of buyers from outside the area, there’s an anticipation that 2024 could see an upward sales trend exceeding 5%. This optimistic outlook positions Cheshire as a market to watch, offering sellers an advantageous environment to achieve optimal prices for their properties and presenting buyers with a dynamic yet stable investment opportunity. With this in mind its imperative that seller’s are positioned with an agent who has the reach to an array of buyers that are looking to act quickly and capitalise on this opportunity.
In summary, the real estate story in Cheshire, particularly in Knutsford, is one of resilience, growth, and unwavering appeal. Against the backdrop of flat national and regional averages, this location’s property market shines as a beacon of stability and potential, showcasing that even in challenging times, Knutsford and its surrounding area remains a destination where the value of homes continues to ascend.
Sources: Land Registry, Zoopla, Rightmove
