What we know about Altrincham property prices
What we know about Altrincham property prices
As local Altrincham estate agents, we make sure we know about Altrincham property prices. In fact, we invest in a data tool so that we can be accurate with the property valuations we do. But this information also keeps us informed about Altrincham property prices – whether they’re fluctuating, rising or falling. A good property agent should know this.
Perhaps you feel unsure about selling a home in the Altrincham area right now? Well, let us help by outlining what is happening with property prices in Altrincham. Read on to find out…
Altrincham property prices overview
We’re not quite at the end of the year, but the data we currently have covers the last 9 months of 2023. This gives us a good indicator of how Altrincham property prices have fared throughout this year against economic and market conditions. For example, across all the property bands (houses of all styles and flats and apartments), the start of 2023 saw property prices increase in line with buyer demand. Around this time, mortgage rates fell back towards 4% after their sharp rise at the end of 2022.
With some of the property bands in Altrincham, you will see there was a slight drop in property prices over the summer months. This can be attributed to a rise in summertime borrowing costs which impacted buyer demand again. But in Altrincham specifically, unlike some other areas of the country, the difference was slight.
Average Altrincham property prices by property type
The data we are referencing throughout this article covers the whole previous year, from October 2022 to September 2023.
The chart above shows the average prices by property type for properties in Altrincham, compared to those in the North West.
The Altrincham property price averages you can see are as follows:
Flat / apartment – £241,240
Terraced property – £380,352
Semi-detached property – £483,672
Detached property – £742,982
There is a notable price difference for each property type in Altrincham compared to the wider North West. But we can explore a little more about how these Altrincham property prices have fared over the course of the last year.
Flat and apartment property prices in Altrincham
There has been a little fluctuation with prices in this category this year, although overall it has remained fairly consistent. However, it’s important to note that the average price of flats and apartments is still higher than last year and those pre-pandemic.
On this chart you can see a slight fluctuation in the average price of flats and apartments this year. It was in July when the average hit a peak of £245,365 and this has tailed off slightly to around £241k.
But if we go back to 2021 and the post Covid Stamp Duty Holiday, flats and apartments hit their highest price of £262,933 in the month of May. To get a true reflection of where prices are today, we can go back a little further to pre-pandemic times. This was when the average price of flats and apartments was around the £220k mark. So, it’s clear to see the average price of flats and apartments in Altrincham remains strong, around 9% better than pre Covid times. They still remain higher than the year previously too when the average in October 2022 was £237,404.
Terraced property prices in Altrincham
Prices of terraced properties appear to have followed the trends caused by wider market conditions.
For example, prices hit a peak in February of this year at £389,474 and have dropped by nearly £10k to £380,352 in September. However, these averages are slightly better than the year previously – back in October 2022 the average terraced property prices were £377,738. And the year before that, October 2021, they were £341,716. This shows that terraced properties in Altrincham, of which we have plenty, remain desirable.
Semi-detached property prices in Altrincham
Over the last six months of the year, the average price of semi-detached properties in Altrincham has been steadily rising despite market and economic conditions.
Not only that, but the average price difference between October 2022 (£449,881) and September 2023 (£483,672), is a significant increase (around 7%). And if we go back to pre-pandemic times and October 2019, the average price of a semi-detached property in Altrincham then was £355,723. This just shows the staggering increase in semi-detached price averages in such a short space of time.
We can attribute this to the demand for these homes. With the high-quality schools in the area, and semi-detached homes being ideal for families, the desire to live in Altrincham continues to drive prices up.
Detached property prices in Altrincham
As with semi-detached properties, detached properties in Altrincham have seen prices increase steadily since the start of the year. There was a slight dip in April (£730,693) and July (£742,204), and more recently in September down to £742,982. But average prices hit a peak in June this year at £752,656.
This category took a real knock at the end of 2022 when average prices dipped below the £700k mark at £694,200. However, detached properties are performing around 5% better than the year previously when in October 2022 the averages were £714,638.
And as with the semi-detached property averages, if you go back to pre-pandemic times there has been a whopping increase in prices. Back in October 2019, detached property prices in Altrincham averaged £603,701. Again, the fact prices continue to increase, although more steadily these days, proves the demand for detached properties in Altrincham remains.
Average property prices in Altrincham are slowing
As we can see from the data, average property prices in Altrincham are faring well through these tough economic times. The average prices are slowing down and considerably compared to the years before. But that said, across all property areas, the average prices are still greater than they were the year previously. And this is good news for anyone looking to buy or sell in this area. One thing is definitely for sure – demand for homes remains in Altrincham and its surrounding areas.
High demand is one of the reasons why Altrincham property prices remain above average. If you are looking to sell your home in Altrincham in 2024, contact us for a free valuation and realistic discussion about your property’s value. Our professional team provide an unparalleled service which you can only expect from a local, independent estate agent such as us.
All data shared in this article comes from Dataloft Inform, of which we are Subscribers.