The Locks Heath Property Market continues to disregard the end of the world prophecies of a post Brexit fallout with a return to business as usual after the summer break.

The challenge every Locks Heath property buyer has faced over the last few years is a lack of choice – there simply hasn’t been much to choose from when buying (be it for investment or owner occupation). Levels are still well down on what would be considered healthy levels from earlier in this decade, as there is still a substantial demand/supply imbalance. Until we start to see consistent and steady increases in properties coming on to the market in Locks Heath, the market is likely to see upward pressure on property values continue.

However, there may be hope for first time buyers, with homeowners looking to move upmarket and buy to let Landlords looking for their next investment, the Locks Heath property supply crisis just might be starting to ease, as the number of new properties coming onto the market in Locks Heath has increased.

For example, in the last month or so, SO31 has seen an average of 128 new properties coming on to the market.  Not bad when you consider for some months in the last year the average has been in low 80’s. With the average Locks Heath property value hitting a record high, reaching almost £334,700 according to my research, this shortage of properties on the market over the last two years has contributed to this ‘fuller’ average property figure, but there is a glimmer of hope that the Locks Heath’s supply crisis may be starting to ease.

As I write this article, 2.31% of Locks Heath (or SO31 to be exact) properties are up for sale. In terms of actual chimney pots, that equates to 370 properties on the market in Locks Heath – which, when compared to only a year ago when that figure stood at 310, is a steady increase in the number of properties available to buy. Split down into the type of property, it makes even more fascinating reading…

• Detached Properties in SO31 – 138 on the market a year ago compared to 164 on the market now – an increase of 19%
• Semi Detached Properties in SO31 – 46 on the market a year ago compared to 54 on the market now – an increase of 17%
• Terraced Properties in SO31 – 11 on the market a year ago compared to 22 on the market now – an increase of 100%
• Flats / Apartments Properties in SO31 – 71 on the market a year ago compared to 89 on the market now – an increase of 25%

This is evidence of strength in the Locks Heath housing market that many didn’t expect. Many believed that the Locks Heath property market wasn’t going to be strong enough post Brexit – as what was a sellers’ market before the Brexit vote and Buyers’ market in the early months after it, may now be somewhere in between and the market might just be coming back into balance.

However, all this will mean property values won’t continue to grow at the same extent they have been over the last 12 to 18 months, and in some months (especially on the run up to Christmas and early in the New Year), values might dip slightly. This won’t be down to Brexit but a re-balancing of the Locks Heath Property Market – which is good news for everyone.

For more thoughts on the Locks Heath Property Market, please visit the The Locks Heath Property Blog