Thinking of moving? Here are Runcorn’s housing prospects in 2018

By on July 31, 2017

The UK property market is constantly flourishing, and as homeowners, potential buyers, and renters it couldn’t be a better time for us all.
Over recent years the UK has seen a steady increase in housing prices nationwide, with prices set to see a jump from a 3% increase to around 6% by 2018. This is set to vary around the UK, but 2018 will see a property price increase, more so in popular and job thriving UK locations.

The housing market still sees a vast difference between the north and south, with southern housing prices reaching an all-time high, with no current forecast of slowing down, the north isn’t far behind, but does, however, increase at a more comfortable rate.

As the UK begins to again steady its economy, we begin to see an increase in household income, thus the increase in the housing market begins.
A popular housing location for many UK citizens is Cheshire, bordering between Merseyside and Greater Manchester, it is home to some of the most enchanting houses on the market. It is also home to an up and coming industrial town – Runcorn. A popular British town, Runcorn is beginning to flourish in the property market, with the demands for homes steadily increasing, it has become a noticeable town of Cheshire.

Over the years the housing market of Runcorn has grown steadily, with the average housing prices of 2017 marketed at £140,053. This average property price has seen an enormous increase since 2016, where prices were based around 2.92% lower. This too is similar to properties across the UK, is it not only comparable to northern locations.
Although a small town in Cheshire, Runcorn is steadily increasing its housing prices alongside other UK towns.

As of 2017, a flat/maisonette is averagely priced at £102,996, whereas a terraced property averagely sells for around £84,993. If you are looking at detached and semi-detached properties, they are averagely priced between £119,878 and £199,565.

These averages will see a 3% increase by 2018, making it the perfect time for house owners to jump back into the market.
Between 2015 and 2016, housing prices rarely varied in Runcorn, with the average property price fetching for around £132,284.

As the UK heads forward towards Brexit, the change in the economy will see a huge effect on the housing prices. The demand for properties are increasing, as are first time buyer schemes, such as Help to Buy offers, Starter Homes and Right to Buy, it will continue to push housing prices further upwards. Thus meaning that first time buyers will find themselves in an increasingly competitive market. As the economy continues to improve, it is believed that in around 10 years time, the property market could increase to around 50% higher than its current value, with there still being an evident divide between north and south properties.

However, the upcoming year will see popular locations hit with around a 4% increase, and with Runcorn located between two thriving UK cities, the prospect for strong jobs increases, making it more suitable for housing prices to see a substantial price increase.

Individuals who aren’t currently looking to purchase properties will see rent prices increase by around 3% in Runcorn. Prices in all aspects are set to increase, whether you are looking to buy or rent, the demand for homes are increasing and prices have to match up to that.

The next 12 months in Runcorn will see a steady growth in the housing market, not only for property prices, but also the demand for new homes to be built in order to cater for the growing job prospects available in the northern region of the UK.

Edwards Grounds have been setting the pace in the Estate Agency market since 1885. They have risen to become one of the most recognised and well respected independent Estate Agents in the North of Cheshire. With offices in Widnes, Runcorn, Warrington town center, Culcheth, Woolston and Westbrook, our reputation for local property expertise in the sales and lettings market has been built on success. If you’re looking for estate agents in Runcorn, visit their site or call 01925 231 321.

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