Rhyl Market Update - September
Here is your Rhyl market update for September
With the nights slowly starting to draw in and the traditional arguments over when the central heating should be turned on, it is also a good time to reflect on the year so far. For some, this includes planning next year’s move. I am asked a lot at this time of year, “Can I move home before Christmas?”. Well, it is probably a bit late but it could still be possible.
Let’s look at the Rhyl market to begin with and then we can examine in a bit more detail some of the issues impacting the market locally.
Rhyl Property News
Properties in Rhyl had an overall average price of £179,345 over the last year.
The majority of sales in Rhyl during the last year were detached properties, selling for an average price of £206,586. Semi-detached properties sold for an average of £160,578, with terraced properties fetching £123,161.
Overall, sold prices in Rhyl over the last year were 15% up on the previous year and 25% up on the 2018 peak of £143,697.
September in Rhyl Property
There was a total of 47 new instructions in September, two and a half times the previous month. There were also 54 sales agreed. This shows the continuing stock level issue that is making the market difficult at the moment. This also is a contributing factor to house price rises, although this only really tells half the story of what is happening in the market.
Time on the Market for Property in Rhyl
The average time on the market for available properties overall in Rhyl is 108 days, however over 39% of the stock on the market has been on for over 12 weeks, otherwise known as “slow movers”. Out of a total of 87 properties, 34 were still for sale after 12 weeks.
Let’s have a quick look at how this has changed over the last year for specific types of property.
There are always seasonal trends and local influences on the housing market. We are currently seeing an increase in properties coming to the market now schools have settled back. September was a busy month for new stock, but still, the demand continues to outweigh the supply. Most properties are receiving several competing offers, and sales prices on average are achieving between 3-8.5% higher than the asking price.
If you would like any more information, don’t hesitate to get in touch and we can have a good chat about it all.