Take a look at what happened across Darlington in 2023
As we are reaching the end of the year, it is a good time to look back, and at Anthony Jones Properties, you know we care about what is happening in and around the Darlington property market.
While we’d love to give you up-to-the minute analysis of the housing market, sales figures movie slowly! It’s better to give accurate information than fast but estimated numbers, so taking figures from Land Registry, we are going to look at the first six months of Darlington property sales in depth.
We always have a feel for what’s going on in the present day, as a local estate agent we speak to clients every day, and we know what is going on in the community. However, it’s helpful to pore over the official figures, and we’re here to ensure you make informed decisions in the Darlington property market.
Average price paid for property hasn’t shifted too much
From January 2023 to June, there was a slight fall in the average price paid for property. The first month of the year saw the average price stand at £161,229 but by June, this had dropped to £157,597. (Don’t worry too much about that though, there has been a rally since then, with the September average price paid standing at £160,252.)
January is the month with the highest average price paid for property so far, and June stands as the lowest average price paid.
January was also the month with the most houses sold, with 121 deals concluding in the opening month of the year. February and May tied for the lowest number of sales, with 93. March and June also broke the 100 sales barrier, with March offering 101 sales and June providing 105 sales.
Average price paid by buyer status
You’ll find analysis of the property market differentiates between first-time buyers and existing homeowners. There is a clear gap in the average price paid by these two groups, and it won’t surprise you to learn the average price paid by a first-time buyer is lower than existing homeowners.
In January 2023, the average price paid by a first-time buyer purchasing a home was £138,089 by June, this had dipped to £134,421 but by September 2023 had rebounded to £136,666. A shift of less than £2,000 over the course of nine months isn’t much to worry about, and the consistent nature of price paid is also seen in the average price paid by existing homeowners.
In the first month of 2023, the average price paid by an existing homeowner was £185,304, by June, this had fallen to £181,921 but as of September 2023, the average price paid by existing homeowners was £185,019. This represents total movement of less than £300, again, not something to worry too much about in the grand scheme of things.
All in all, there is nothing to suggest there is stability in the Darlington housing market. When you consider the challenges people have faced this year, this isn’t a bad situation to be in. The last few days of 2023, and whatever 2024 brings will no doubt pose fresh challenges, but there is no need to be overly concerned about the property market.
If you are looking to move, through circumstance or the opportunity arises, there will be good options for you to consider. If you are looking for the best level of local knowledge and support, make sure you contact Anthony Jones Properties.
Contact Anthony Jones for all Darlington property matters
If you are looking for help with any matter of the Darlington property market, it is best to speak to property professionals. No one knows for sure what is going to happen next, so we won’t claim to have all the answers, but the Anthony Jones team is keen to help you as best we can. If you would like to contact us over housing matters, please call us today on 01325 776424.
