KIBWORTH AND GREAT GLEN OVERVIEW
· Over the last 12 full months there have been 237 sales in Kibworth and Great Glen. This is a −17% change on the previous 12 month period. The overall average sale price was £268,455. This reduction in the number of sales is largely attributed to major new build developments in the area having reached completion and also the numbers of homes coming on to the open market reducing.
· This shortage of stock on the open market with levels of demand still strong has helped sustain the house price growth for the area at 9% year on year, compared to national growth at 5.4%. Evidence of not just the continuing trend of strong growth within the East Midlands, compared to other areas of the UK, but also how sought after South Leicestershire in particular the villages of Kibworth and Great Glen, are. This said, price sensitivity remains strong among buyers and ambitiously priced properties are languishing on the market for some time. It is vital for homeowners looking to sell for the best price to ensure they and their agents adopt the right pricing strategy and correct marketing approach.
· 4% of sales in the past 12 months were flats, achieving an average sales price of £114,090. Houses achieved an average price of £279,460. The total value of sales was £64,952,572.
· The highest value recorded by the Land Registry over the past 12 months was £162,500 for a flat and £795,000 for a house.
· Work has commenced in recent months on further new developments – with Davidson Homes at St Cuthbert’s View and Francis Jackson Homes at St Cuthbert’s Park, respectively in Great Glen and Mulberry Homes at Harcourt Gardens in Kibworth. David Wilson Homes have also commenced work on a further site – New Kibworth Meadows, having recently “topped out”, (completed Kibworth Meadows).
· Elsewhere, among the local community support for a Kibworth by-pass continues to grow as rising levels of traffic, and indeed pollution, show no signs of abating following the increase in numbers of households within Kibworth and also nearby Fleckney, as well as commuter traffic between Leicester and Market Harborough.
· As a new year beckons, on a wider level, house price growth is predicted to be muted and slow down amid economic and political uncertainty, in the run up to Brexit. Knight Frank in their most recent December UK Residential Market Forecast see house price growth across the UK to be 1.0% in 2018, (14.2% cumulatively over the next 5 years). “The market is localised and we see slightly stronger growth in the Midlands, East of England and North West, a continuation of the trend that has emerged this year…”).
· In essence, should you be thinking of selling in 2018, as long as your home is priced, presented and promoted in the right way you will achieve a positive outcome. We are achieving sale prices at an average of 102% of asking price compared with 97% national average. If you require professional, honest advice about how to achieve the right result for your home, get in touch – we would love to hear from you!
0116 275 8888