Worksop basking in a ‘staggering’ property price boom

The figures are "staggering", says Stuart Bowley, of Worksop estate agency, Martin and Co.
The figures are "staggering", says Stuart Bowley, of Worksop estate agency, Martin and Co.
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Worksop has been basking in a property price boom over the past 12 months, says a sales and lettings expert.

Property transactions have generated an extremely healthy £137 million in business through the town since this time in 2016.

And Stuart Bowley, of Worksop estate agency, Martin and Co, has labelled the statistics as “staggering”.

Mr Bowley reveals that the latest figures show a one per cent increase in the number of sales transactions for the past year, with an average sale price of £124,769. This comes at a time when, across the UK nationally, there has been a five per cent drop in the number of transactions.

Worksop continues to provide a buoyant rental market for property investors too.

Mr Bowley said: “What is staggering is that the total value of sales transactions reached in excess of £137 million, with the average price for a flat a healthy £71,386, while houses are going for an a average £126,626. The highest recorded value by Land Registry was £600,000 for a house and £128,000 for an apartment.

“Generally, prices are increasing throughout the Worksop area, with a growth of seven per cent over the last year and a growth of as much as 14 per cent over the last five years.”

WITH interest rates for borrowing at an all-time low, there are no reasons to suggest the current property price trends will not continue, added Stuart Bowley, of Martin and Co.

“The rental market is also still very buoyant across the area, with rent increasing by just under three per cent in the last 12 months, providing a good option for people wanting to invest in the area,” he added.

As far as property sales in Worksop go, research shows that 42 per cent were semi-detached properties, closely followed by detached at 33 per cent, terraced homes at 22 per cent and apartments at three per cent.