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A recent article published by the Guardian claims that Northamptonshire is currently at the centre of a boom in house prices in the Midlands. We explore our whole-of-market property data* for similar patterns in property trends.
The Midlands as a region has an average asking price of just over £265k, 23% lower than the national average. However, length on market for sale tenured properties is 122 days, 17 fewer than the national average. Similarly, 1.92% of all properties in the Midlands are currently for sale, again slightly less than the national average too.
As for Northampton, the average asking price is around £270k and the sale% is 1.90%, both on par with the Midlands region. But length on market is just 100 days, far shorter than the regional and national averages, showing that Northampton is indeed a relatively in-demand area of the Midlands.
In fact, Northampton is the most in-demand area in the Midlands, when you consider length on market. Second in that list is Coventry, at 104 days, and third is Leicester at 112 days. Pulling the magnifying glass back even further reveals that Northampton is the most in demand area in England and Wales, only beaten nationally by Glasgow and Edinburgh.
Looking at the rental market for Northampton, the average asking price is £796pcm, the average length on market is 66 days and the rental percentage is 0.44%. All of these metrics are less than the national average. Even when removing the perpetual gentrifying juggernaut known as “London”, most of Northampton’s rental metrics compare favourably to the rest of the UK.
To read more of our Delving Into Data property insight posts, click here.
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*Data correct as of 8/09/2017