The Dartford Property Market continues to disregard the end of
the world prophecies of a post Brexit fallout with a return to business as
usual after the summer break.
The challenge every Dartford property buyer has faced over the
last few years is a lack of choice – there simply hasn't been much to choose
from when buying (be it for investment or owner occupation). Levels are still
well down on what would be considered healthy levels from earlier in this
decade, as there is still a substantial demand/supply imbalance. Until we start
to see consistent and steady increases in properties coming on to the market in
Dartford, the market is likely to see upward pressure on property values continue.
However, there may be hope for first time buyers, with
homeowners looking to move upmarket and buy to let landlords looking for their
next investment, the Dartford property supply crisis just might be starting to
ease, as the number of new properties coming onto the market in Dartford has
increased.
For example, last month DA1 saw 160 new properties coming on to
the market, not bad when you consider over the last year the average has been
as low as the 100 to 120 range. With the average Dartford property value
hitting a record high, reaching almost £327,800 according to my research, this
shortage of properties on the market over the last two years has contributed to
this ‘fuller' average property figure, but there is a glimmer of hope that the Dartford's
supply crisis may be starting to ease.
As I write this article, 1.33% of Dartford properties are up for
sale. In terms of actual chimney pots, that equates to 334 properties on the
market in Dartford (within 2 miles of the centre of Dartford) – which, when
compared to only a year ago when that figure stood at 226, is a serious
increase in the number of properties available to buy. Split down into the type
of property; it makes even more fascinating reading...
·
Detached Properties in Dartford - 35 on the market a year ago compared to 42
on the market now – an increase of 20%
·
S Semi Detached Properties in Dartford - 66 on
the market a year ago compared to 91 on the market now - an increase of 38%
·
Terraced Properties in Dartford - 38 on the
market a year ago compared to 74 on the market now - an increase of 95%
·
Flats / Apartments Properties in Dartford - 62 on the market a year ago compared to 117
on the market now - an increase of 89%
With realistically priced properties flying
off the shelves and this increase in new properties (especially semis and
terraces), this is evidence of strength in the Dartford housing market that
many didn't expect. Many believed that the Dartford property market wasn't
going to be strong enough post Brexit - as what was a sellers' market before
the Brexit vote and Buyers' market in the early months after it, may now be
somewhere in between and the market might just be coming back into balance.
However, all this will mean property values won't continue to
grow at the same extent they have been over the last 12 to 18 months, and in
some months (especially on the run up to Christmas and early in the New Year),
values might dip slightly. This won't be down to Brexit but a re-balancing of
the Dartford Property Market – which is good news for everyone.
For more thoughts on the Dartford Property Market, please visit
the Dartford Property Report www.dartfordproperty.blogspot.co.uk
