Areas of Telford see house sales double
The number of houses being sold in parts of Telford has doubled in the past year as the town's property market drags itself out of the doldrums.
Analysis of the latest Land Registry data by county estate agents DB Roberts has found that in the TF1 postcode covering Wellington and Leegomery, and TF2 covering Oakengates, Muxton and Donnington, there have been 25 per cent more detached property sales in the first half of this year than in the same period in 2013.
In TF1, the data shows, semi-detached transactions have doubled on last year, and sales of terraced houses have risen by 20 per cent. Prices have generally remained steady at £218,00 for detached houses and £124,000 for semis, with terraced houses selling for seven per cent more with an average of £118,000.
For the TF2 code, semi-detached homes have remained steady in volume and value, selling for £118,000, and terraced houses have been moving for 22 per cent more – with an average of £113,00 – while the amount of houses has increased by 50 per cent as more people buy newer houses around Priorslee and Muxton.
South of the M54 in the TF3 area, sales of detached houses are down by a third and values up by eight per cent at £170,000. Semi-detached sales almost doubled and prices rose 12 per cent to £139,000, while about 50 per cent more terraced properties changed hands with prices remaining steady at around £95,000.
"Generally speaking, the picture in Telford for quarter two of 2014 is encouraging, showing a trend of both volumes and average values increasing across the board, with only one or two exceptions," said DB Roberts chairman Bill Brookes.
"We believe that the Telford property market is beginning to level out and that we may not see values climbing so steeply as we head towards year end – that said, we are still selling plenty of houses."
The figures exclude new build homes and distress sales and repossessions reflecting instead the movement among currently occupied homes.
TF4 – Lawley and Horsehay – also saw detached home sales stall, with sales down by a third and values stuck at £183,000, although semi-detached sales were up about 20 per cent and prices climbed seven per cent to £130,000. Terraced sales leapt 50 per cent and values by 17 per cent to £121,000
The biggest gains in TF7 – Madeley and Woodside – were semi-detached houses, with volumes staying low by values up 25 per cent.
Terraced properties also benefitted, with volumes doubling and values up 12 per cent to £82,000.
Detached property transactions were marginally up but values remained around £180,000.
