Aprils Market Update
Keep up to date with how the market is moving with our latest market update
Spring has definitely arrived, and the property market around Denbighshire & Conwy, just like the local bees, is buzzing.
According to mortgage industry technology company Twenty7tec, March saw overall mortgage search records set, and this has been reflected in the amount of activity in the local property market. We have had a very busy month at LL Estates, selling just short of £5 million worth of property!
The King's Coronation has added another Bank Holiday to the calendar this month, giving house hunters even more time to look for their dream homes. With this in mind, we expect this month to be even busier than the last so if you are considering putting your property on the market don't miss out on this royal opportunity.
Let’s briefly look at what’s been happening over the last month in the local property market around Denbighshire.
There are currently 1100 properties available for sale. This is a 59% increase in the number of available properties compared to the same time last year when 693 properties were available. This is great news for buyers as it means that there is more choice.
In April, 216 new properties came onto the market. This is similar to last month when 224 new properties came onto the market. The Spring Rush is having a noticeable effect on the local property market.
Properties in Rhyl had an overall average price of £169,171 over the last year.
The majority of sales in Rhyl during the last year were semi-detached properties, selling for an average price of £168,200. Detached properties sold for an average of £203,124, with terraced properties fetching £132,366.
Overall, sold prices in Rhyl over the last year were 8% up on the previous year and 20% up on the 2019 peak of £140,538.
Properties in Prestatyn had an overall average price of £204,442 over the last year.
The majority of sales in Prestatyn during the last year were detached properties, selling for an average price of £251,589. Semi-detached properties sold for an average of £175,177, with terraced properties fetching £134,230.
Overall, sold prices in Prestatyn over the last year were 4% up on the previous year and 21% up on the 2020 peak of £169,220.
A total of 177 sales were agreed during April, an increase from 152 last month. We expect this figure to keep rising as we head towards the summer.
There were 115 price reductions during April down from 156 in March. This is likely to be as a result of sellers being keen to take advantage of the Spring Rush by reducing the price to draw attention to their property.
There were 567 ‘slow movers’ on the market in April. This means a property that has been on the market for 12 weeks or more. Slow movers can often be due to the 3 Ps: presentation, promotion, or price.
We are proud to be in the top 3 agents in the area with the smallest number of slow movers. Choosing the right agent for your property can make a very real difference in achieving your moving plans. We are passionate about helping you on your journey.
This is one of the 46 reasons The Property Academy and Rightmove assessed us as Gold Standard estate agents for 2022 and 2023.
In April, each property in the Prestatyn and Rhyl area had an average of 66.6 daily views on Rightmove. The average daily views per property on Rightmove for properties listed by LL Estates were 82.3, which was 23.5% higher than average.
We are pleased to deliver above-average results for our clients consistently. It shows the difference your estate agent can make in attracting the right buyer to your property.
If you would like to have a chat about moving home this year, or if you are a landlord with questions about the complex rental laws here in Wales, give us a call on 01745 591811 or email sales@llestates.co.uk.