The property section has been updated with the latest sales data from the Land Registry, which shows that there were 435 property sales in Wilmslow last year with a total transaction value of £125,560,389.*
Total property sales for the year exceeded the 386 sales made in 2008 and represented an 8.6% increase on the 2008 total transaction value of £115,588,982.
2009 started off pretty slowly in Wilmslow with only 13 sales registered in January and 17 in February. The rest of last year was relatively steady with a drop off in December to only 14 sales. However, these latest figures may not provide a complete sales picture for the end of last year. Due to the length of time taken to submit information to the Land Registry some November and December sales may well be included in our next data feed.
Michael Chapman, who has recently opened an independent estate agents in Alderley Edge having previously been the manager at Savills, said "Despite early 2009 experiencing drops in UK house prices and transactions in Wilmslow there was a distinct change during the second quarter of the year. In fact, whilst monthly changes have been minimal, according to the Land Registry, the upward theme has been consistent since March in Wilmslow."
Looking more closely at the sold prices the top end of the market was much healthier in 2009 with three times as many properties being sold for over £1 million. There were 9 such sales last year, compared with just 3 in 2008. The ceiling price also increased significantly from £1,139,48 in 2008 to £2,050,000 last year. However the average sales price of £288,645 for 2009 was slightly down.
Looking ahead Michael said "The imbalance between supply and demand remains prominent, although there is likely to be some improvement on this situation as vendors realise they can achieve a competitive price for their property within a quick timeframe."
"Taking into account all factors, we predict some growth in the sales market of approximately 3% in 2010 if the demand for property out strips the supply."
"If we look to 2010, my biggest concerns for the residential market are the anticipated increase in interest rates, taxation later in the year and also the impact of political uncertainty around the election. These decisions are likely to hinder progress in the market." added Michael.
Both 2008 and 2009 were massively down in terms of both sales volume and total transaction value on the previous six years. For further information see our sold prices by date table in the property section.
To see the price paid for any property in Wilmslow since 1995 visit our property section.
* For details of sales which are excluded from the Land Registry click here.
