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Property Market Update: July Wrap for Cadishead, Irlam, Rixton, Warrington, Lowton, and Glazebrook
Welcome to our July property market update for the areas of Cadishead, Irlam, Rixton, Warrington, Lowton, and Glazebrook. Whether you're a home buyer, seller, or simply keeping an eye on the market, we're here to provide you with the latest insights.
July 2024 Market Overview
In this update, weโll analyze the key metrics from July, including the number of properties listed, sold, and reduced. Weโll also dive into the crucial price per square foot (or square meter) to see if the market has risen, fallen, or stabilized.
Impact of Recent Political Changes on the Market
With Labour taking control of the government in July, many are wondering how this will affect the property market. Interest rates decreased on August 1st, and we anticipate seeing the effects in the next market update. But for now, letโs focus on July.
Cadishead Market Trends
Starting with Cadishead:
- New Listings: 17 new homes were listed in July, matching the six-year average. This is only slightly down from the 18 new listings in July 2023.
- Properties for Sale: 77 properties were on the market, higher than the six-year average of 59 and last year's 64.
- Average Asking Price: The average asking price was ยฃ232,941, down from ยฃ252,272 in June, showing a decrease of around ยฃ20,000.
- Sales Agreed: 18 sales were agreed, a significant increase from 8 in July 2023, and above the six-year average of 15.
- Price per Square Foot: The average price was ยฃ268 per square foot, with the average achieved asking price being ยฃ198,055, or ยฃ233 per square foot.
Price corrections were slightly higher than the six-year average, and there were also more withdrawals and fall-throughs, which suggests a mixed market sentiment in Cadishead.
Irlam Market Insights
Moving on to Irlam:
- New Listings: 23 new listings were recorded in July, aligning with the six-year average and nearly identical to the 24 listings in July 2023.
- Properties for Sale: There are currently 94 properties for sale, with an average asking price of ยฃ246,629 (ยฃ282 per square foot). This is down from ยฃ296 per square foot in June.
- Sales Agreed: 18 sales were agreed, consistent with the six-year average.
- Achieved Prices: The average asking price achieved was ยฃ262,499, equating to ยฃ277 per square foot. These figures are similar to Juneโs data, indicating stability in Irlam.
Price reductions in Irlam were lower than in July 2023, and the number of withdrawn properties and fall-throughs has decreased, reflecting a slightly more positive outlook.
Rixton, Glazebrook, and Lowton Market Review
Finally, letโs cover Rixton, Glazebrook, and Lowton:
- New Listings: 16 new homes were listed in July, close to the six-year average of 15.
- Properties for Sale: 66 properties were on the market, with an average asking price of ยฃ282,188 (ยฃ255 per square foot). This is a decrease from Juneโs ยฃ251,361 (315 per square foot).
- Sales Agreed: 16 sales were agreed in July, with an average achieved asking price of ยฃ275,938. This is a significant increase from Juneโs figure of ยฃ170,909, driven by sales of higher-priced properties.
- Price per Square Foot: The average was ยฃ263, nearly identical to Juneโs ยฃ260.
Price reductions were slightly above average, while withdrawals and fall-throughs were below the six-year average, suggesting a relatively stable market in these areas.
Conclusion
In conclusion, the property market across Cadishead, Irlam, Rixton, Warrington, Lowton, and Glazebrook remains stable, with figures comparable to earlier this year and slightly better than 2023. As we move into August, we expect to see further positive changes, especially with the recent interest rate reduction.
If youโre considering buying, selling, or need advice on mortgages, remortgages, rentals, or valuations, Iโm here to help. Thank you for reading, and I look forward to updating you next month!
Cadishead property market, Irlam house prices, Rixton real estate, Warrington market trends, Lowton home sales, Glazebrook property update.