Market Report

Summer is here and Penarth is looking fantastic once again. Is the housing market looking quite as good? The answer is that it’s hard to tell. We all know that stats can be used to prove anything, and there are plenty available where property is concerned, so we thought we’d share a few with you. The overriding message is that the local market remains resilient and this is still a good time to sell. What has really changed, however, is that it is now also a good time to buy. Supply is improving, demand has fallen slightly and things are now a bit less intense.

0% / Zero / Flat

We have now reached the point where annual growth has fallen to 0%. The stats suggest that this was the case for the 12 months to the end of April 2024. Penarth, Sully and Llandough still outperform Wales though, which reached that level sooner and is now tracking at -2%. This, in itself, is a pretty good result when compared to some of the predictions from a year or so ago. Whether this is good or bad depends on your perspective, but it’s worth remembering that there has been growth of 25% over the last five years, which gives some useful context.

Transactions

Transactional volume has fallen off dramatically since the peak years of 2021 (699 transactions) and 2022 (590 transactions). But, again, what does that mean? Clearly the market is much quieter now than then, but were transactions down 35% in 2023, or were they artificially inflated over that period of time before returning to more normal levels? As we said earlier, the overriding message is that the market is still good.

Things are probably back to normal through, and more than ever before, a property’s value and prospects for selling are much more specific and unique to each property.

Music in the Park

David Baker & Company are proud to sponsor this fantastic Penarth event once again this year and will be represented on the day by Charles Wood and his family band- everyone’s favourite- the Woods! If you’ve not seen them before, make sure you catch them this time around.

Support Local

We are also very grateful to be able to support other local events, including the Penarth Hockey Club annual dinner, the Old Pens 7s, the Penarth Chamber Music Festival, and the Evenlode School Summer Fayre, as well as making more donations to the local Trussell Trust Food Bank.

New Boards

Our new For Sale and To Let boards should have made an appearance by now, and are the culmination of our re-branding process that has included the office renovation and signage, as well as the website and online presence. They include a bit of interesting tech, and have GPS-driven QR codes that you can scan on location to get all of the property information from our website. Make sure you try them out when you see them!

Here to Help

Whether you are looking to buy, sell or rent, or if you have an specific requirements and want to discuss the local property market, please do give us a call and we can arrange a consultation at a time to suit you. Our latest property listings can be found online, on our relaunched website at www.davidbaker.co.uk.

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