cheltenham - knight frank · cheltenham sales market insight 2018 source: knight frank research /...
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Contains OS data © Crown Copyright and database right 2017
Up to £200,000
£200,000 - £400,000
£400,000 - £600,000
£600,000 - £1,000,000
£1,000,000+
CHELTENHAM SALES MARKET INSIGHT 2018
Source: Knight Frank Research / VOA Source: Land Registry
2000-present
1973-1999
1945-1972
1900-1939
Pre-1900 23%
12%
31%
22%
12%
Property prices in Cheltenham Achieved prices, year to January 2018
Nick Chivers, Head of Knight Frank’s Cheltenham office“ A lack of new stock relative to demand means competition for homes in Cheltenham has contributed to recent strong price performance. There are signs that that the balance is shifting, however. In the last few months we have seen an increase in new listings, which should help underpin activity this year. Sellers need to be mindful that buyers have become increasingly price conscious – especially at the top end of the market where purchase taxes are higher. In some cases this has created a disparity between those best-in-class properties, and the rest.”
Market update Prices in Cheltenham have risen by 20% over the last three years, comfortably outperforming the UK property market over this timeframe. An imbalance between supply and demand locally has offset a wider backdrop of heightened political and economic uncertainty. There are variations in performance across Cheltenham both by location and
type of property. Whereas the data shows that homes in Battledown increased in value by 5.4% annually, those in Montpellier and Sydenhams and Pitville have seen a lower rate of growth at 1.3% and 2.3% respectively. In a reversal of the recent trend, houses also outperformed, rising by 3.1% over the last year, compared with 1% for flats.
2.6% Annual prime price change
0.7% Quarterly prime price change
Cheltenham: Fact file
Property type Cheltenham, all properties
Property age Cheltenham, all properties
Detached
Semi-detached
Terraced
Flat 31%
26%
28%
15%
RESIDENTIAL RESEARCH
Source: Land Registry
CHELTENHAM SALES MARKET INSIGHT 2018
CHELTENHAM SALES
Cheltenham: Key stats
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201720162015201420132012201120102009
TOTAL TRANSACTIONS
Source: Knight Frank Research / EPC / Rightmove
Important Notice
© Knight Frank LLP 2018 – This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no responsibility or liability whatsoever can be accepted by Knight Frank LLP for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of Knight Frank LLP to the form and content within which it appears. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names.
96%YEAR-ON-YEAR INCREASE IN £1M+
SALES COMPLETED IN 2017
48NUMBER OF TRAINS TO LONDON ON
AN AVERAGE WEEKDAY
8 WEEKSAVERAGE NUMBER OF WEEKS
ON THE MARKET FORPROPERTIES SOLD IN 2017
20%3 YEAR PRICE GROWTH FOR
PRIME RESIDENTIAL PROPERTY
96%YEAR-ON-YEAR INCREASE IN £1M+
SALES COMPLETED IN 2017
48NUMBER OF TRAINS TO LONDON ON
AN AVERAGE WEEKDAY
8 WEEKSAVERAGE NUMBER OF WEEKS
ON THE MARKET FORPROPERTIES SOLD IN 2017
20%3 YEAR PRICE GROWTH FOR
PRIME RESIDENTIAL PROPERTY
96%YEAR-ON-YEAR INCREASE IN £1M+
SALES COMPLETED IN 2017
48NUMBER OF TRAINS TO LONDON ON
AN AVERAGE WEEKDAY
8 WEEKSAVERAGE NUMBER OF WEEKS
ON THE MARKET FORPROPERTIES SOLD IN 2017
20%3 YEAR PRICE GROWTH FOR
PRIME RESIDENTIAL PROPERTY
96%YEAR-ON-YEAR INCREASE IN £1M+
SALES COMPLETED IN 2017
48NUMBER OF TRAINS TO LONDON ON
AN AVERAGE WEEKDAY
8 WEEKSAVERAGE NUMBER OF WEEKS
ON THE MARKET FORPROPERTIES SOLD IN 2017
20%3 YEAR PRICE GROWTH FOR
PRIME RESIDENTIAL PROPERTY
Source: ONS
Who moves to Cheltenham? Internal migration, top 20 Local Authorities/Regions (2016)
Num
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Where people moved from (Local Authority)
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Wor
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1,000
1,200 Nick ChiversPartner, Office Head+44 1242 246 [email protected]
Harry BethellAssociate+44 1242 246 [email protected]
Transaction volumes in Cheltenham
Hayley WilksAssociate+44 1242 246 [email protected]
RESIDENTIAL RESEARCH
Oliver KnightAssociate+44 20 7861 [email protected]