Rhyl Market Update
Here is the latest property market update for Rhyl
Here in North Wales, we are blessed with beautiful coastlines, stunning countryside, and proximity to big urban centre too. We have also lately realised how lucky we are to live in a place of peace.
The sad circumstances in the Ukraine have made many of us even more grateful for our homes and the safety of our families and friends. It’s too soon to know if the situation there will have an impact upon the housing market here in Rhyl and nearby.
However, locally, our lives don’t stop, even when there are atrocities happening elsewhere – babies are still being born, people are getting new jobs, and people still need to downsize, by way of just a few examples.
As the agent who sold the most homes in February in and around Rhyl, we can certainly say there’s still a lot of demand from buyers.
To get a better understanding of what is happening at a local level, let's take a look at Rhyl and surrounding areas' figures.
Properties in LL18 had an overall average price of £180,462 over the last year.
The majority of sales in LL18 during the last year were detached properties, selling for an average price of £212,483. Semi-detached properties sold for an average of £169,114, with terraced properties fetching £127,642.
Overall, sold prices in LL18 over the last year were 10% up on the previous year and 20% up on the 2019 peak of £150,317.
There are currently 95 properties available for sale in the Rhyl area. Just under half (42) of those properties were new to the market in February.
The market is beginning to stabilise as these figures show, which is increasing choice for buyers.
With 49 sales agreed throughout the month of February, there is still more demand than new stock coming to the market. So much so, there were only 7 price reductions on properties in the area.
There are still 28 properties on the market that fall into the 'slow mover' category. This is the term used to refer to those properties that have been on the market for over 12 weeks.
Unrealistic ideas on price for sellers can be common when the market’s been as hot as it has. Starting with too high of a price regularly leads to offers that are far lower than if the asking price had been received with a lower starting price.
With our regular market updates and insights, we offer value and transparency for Rhyl homeowners and landlords alike. This is one of the 46 reasons The Property Academy and Rightmove assessed us as Gold Standard estate agents. We don’t just say it, we prove that we are passionate about helping you on your journey.
If you would like to have a chat about moving home in this year, or if you are a landlord with property to let, just give us a quick call on 01745 591811.