Chew Valley feature.qxp_Layout 1 21/10/2021 15:57 Page 51
FOCUS ON CHEW VALLEY
Claims of a cooling housing market may be premature Sally Killen looks at the Chew Valley housing market
IN the early stages of the pandemic, there were widespread suggestions that the housing market would collapse as a consequence. Instead, over the past 18 months we have seen a period of extraordinary growth as some households found they had increased savings coupled in many cases with a desire for more space. Values are now 13% higher with the average house price over the past year in the Chew Valley standing at £554,617. In August, according to Nationwide, nationally house prices grew by 2% but this slowed in September to 0.1% with the looming end of the stamp duty holiday being blamed for the slowdown. Whilst some economists consider that rising inflation is likely to dent house price growth, other economists believe prices are likely to be sustained in the
6, South Parade, Chew Magna on the market with Killens at £600,000
coming year by continued low interest rates and constraints on supply from the lack of new housebuilding. Rightmove have reported that there is the “hottest ever competition to buy, with buyer demand per property for sale more than double pre-pandemic levels” and throughout our area we are still seeing continuing demand for homes and sales being achieved quickly.
Prices are being sustained due to an incredibly low number of properties on the market. If you are considering moving but are reluctant to put your property on the open market, we encourage you to talk to us. With known buyers seeking the right property and others seeking to sell, we may be able to help you sell and find your dream property quickly.
The Chew Magna office of Killens can be contacted on 01275 333993 chewmagna@killens.org.uk
MENDIP TIMES • NOVEMBER 2021 • PAGE 51
