Post-lockdown recovery continues with house sales up 28 per cent across Worcestershire

Nicol and Co

Worcestershire has seen a 28 per cent rise in house sales in the last 12 months, according to regional estate agent Nicol & Co.

The total of 4,293 sales in the county include 1,881 sales in Worcester, a 36 per cent increase, 632 in Malvern, up 27 per cent , and 444 in Droitwich, which the property market intelligence company Dataloft Land Registry has recorded as being almost identical to the previous year.

Average house prices have also increased significantly across Worcestershire in the last twelve months according to Dataloft, rising to £276,000 in Droitwich, £276,100 in Malvern and £242,700 in Worcester, where 43.8% of the sales took place.

Matt Nicol, the managing director of Nicol & Co, which has three branches in Droitwich, Malvern and Worcester, said: “The growth in sales and prices across Worcestershire reflect the resilience and increasing recovery of the local market.”

Matt explained that the picture for lettings has been more fluctuating over the last twelve months, with the Dataloft Market Rental Analysis recording an increase of eight per cent to £761 a month in the Worcester average.

He said: “The average in Droitwich is slightly higher at £772 despite cooling by eight per cent recently, while Malvern remains 10.4 per cent ahead at £852.”

The comments come as Dataloft revealed an average UK house price growth of 10.8 per cent in 2021, the strongest annual growth at the year-end since 2002, with the average UK home price now standing at £274,712, another record high.

Matt added: “A lack of stock has been putting a cap on sales activity, and house price growth is likely to continue due to the imbalance in supply and demand, meaning it is still a sellers’ market.

“More stock will unlock the system and by building chains, we are beginning to see the levels of instructions increase.

“This is a time when as a full-service agent with dedicated sales progressors in each of our three offices we can give clients peace of mind knowing they have an experienced agent keeping tabs on their sale or purchase every step of the way.”