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Hereford Property Market 2024

🎄 Property Market and house prices in Hereford, UK: 2024 vs. 2023

 
The Hereford property market in 2024 experienced a noticeable cooling compared to last year. Reflecting broader trends in the UK housing sector.
 
The first half of the year was very busy with sensibly priced property, selling quickly. The latter part of the year, has been quieter, with most buyers seemingly coming from the NHS. Which has meant property within walking distance of the hospital has been in demand.
 
Real House prices have not really moved. Williams would also recommend that serious buyers contact us directly, instead of waiting for property to be reduced online before making a viewing.
 
Next Year:
Unless banks pass on the recent interest rate cuts, we envisage a similar market. Williams have sold property in all price ranges. So it is not the location or price that stops a property from selling. In some ways this is a good thing for experienced estate agents. Just being on Rightmove isn’t enough unless your agent is also matching buyers to your property by discussing their real requirements.
 
House Prices:
House prices in Hereford showed mixed changes, with a slight decline in the upper price brackets. For instance, properties that previously sold close to their listed price in 2023 are now often subject to reductions due to slower market activity. Overall, the average house price in 2024 is estimated to have decreased by around 2-3% compared to 2023, reflecting a shift towards a buyer’s market as rising interest rates impacted affordability.
 
Number of Sales:
Sales activity in Hereford has slowed in 2024, with fewer transactions recorded compared to 2023. This reduction is attributed to higher mortgage rates and increased caution among buyers. Across Herefordshire, data shows a decrease in new property instructions and longer times for sales to complete, suggesting that the market is less dynamic than it was in 2023.
 
Key Trends:
Properties with reduced prices are increasingly common in 2024, indicating challenges in attracting buyers at higher price points.
Detached homes and premium properties in rural areas have experienced the largest slowdowns, while smaller homes and flats remain relatively stable.
 
Average selling times have increased, with many properties taking over 90 days to sell, compared to shorter timelines in 2023.
 
These trends highlight a cautious and slower-moving property market in Hereford in 2024 compared to the relatively robust activity seen in 2023.
 
For more personal advice on marketing your property in 2025, contact Williams Estate Agents on 01432 277734 for a moving quote.
 
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Hereford Uncategorised

Will a Labour Government Help the Property Market in Hereford?

Will a Labour Help Property in Hereford?

The property market is a critical component of the overall economy, influencing everything from household wealth to business investment. With the possibility of a Labour government coming into power, many in Hereford are asking: will this change benefit the local property market? Let’s explore the potential impacts of Labour’s policies on Hereford’s housing sector.

Investment in Affordable Housing

One of Labour’s flagship policies is a commitment to significantly increase the supply of affordable housing. The party has pledged to build hundreds of thousands of new homes, with a focus on social and affordable housing. For Hereford, this could mean an influx of new housing projects aimed at reducing the housing shortage and making homes more accessible to first-time buyers and low-income families.

Increasing the supply of affordable housing can help stabilize property prices by balancing supply and demand. For existing homeowners in Hereford, this could mean more steady property values, while prospective buyers might find more opportunities within their budget.

Renters’ Rights and Protections

Labour has also proposed stronger protections for renters, including longer tenancies, rent controls, and measures to prevent unfair evictions. For Hereford’s significant rental population, these changes could provide much-needed security and predictability.

By creating a more stable rental market, Labour’s policies could lead to increased investment in rental properties, as landlords would benefit from more reliable rental income. However, some critics argue that strict rent controls could discourage new investments in rental housing, potentially exacerbating the shortage of rental properties in the long run.

Infrastructure and Community Investment

Labour has committed to significant investments in infrastructure and community development. Enhanced public transportation, better roads, and improved public services can make Hereford more attractive to both residents and businesses.

Improving local infrastructure can increase property values by making areas more accessible and desirable. For the Hereford property market, this could lead to a rise in demand, boosting property prices and making the area more attractive for investment.

Green Initiatives and Sustainable Development

Sustainability is a key focus for Labour, with plans to make all new homes zero carbon within a few years. They also aim to retrofit existing homes to improve energy efficiency. For homeowners in Hereford, these initiatives could mean grants or incentives to upgrade their properties, leading to lower energy costs and increased property values.

Labour’s commitment to green initiatives could also attract eco-conscious buyers and investors to Hereford, positioning the city as a leader in sustainable living. This could further enhance the appeal of the local property market.

Conclusion

A Labour government could bring several positive changes to Hereford’s property market through increased affordable housing, stronger renter protections, and significant investments in infrastructure and sustainability. While some policies may present challenges, the overall impact on Hereford’s housing sector could be beneficial, providing more opportunities for buyers, renters, and investors alike. As with any political change, the key will be in the implementation and how these policies are tailored to meet the specific needs of communities like Hereford.

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Hereford Uncategorised Worcester

5 Reasons to consider Williams to sell your property.

Here are five reasons why Richard Williams of Williams Estate Agents Hereford,  believes that choosing them to sell property in Hereford and the surrounding villages, is the best choice for sellers.

1)    Local. We only take on properties for sale in the areas that we know well. Having lived in Herefordshire all his life, Richard and his local team understand the different characteristics in neighbourhoods and are able to match buyers to property in places that are ideal to their work and family. Areas such as Whitecross, Hampton Park, Tupsley, Belmont, Lower Bullinham  and the surrounding villages, all have their own unique benefits. 

2)    Experience. Having  been an estate agent for nearly 25 years, Richard has sold property in every area of county. This familiarity means there’s hardly any issue or challenge. This will keep your stress levels down, especially when you trying to organise dates and liase with a solicitor. Its great when we receive repeat business and 5 STAR recommendations. 

3)    Personal. When clients instruct Williams they are guaranteed that we act for them every step of the way. From the initial accurate valuation, marketing the property, accompanying viewers, negotiating offers, chasing solicitors and everything else along the road to a successful completion  We guarantee that we will be on hand to assist in every way possibe. This is one of the reasons our customers consistently award us 5 STARS and comment on us being the Best Estate Agency in Hereford. 

4)    Communication. Williams have always believed honesty is the best policy. In the long run it is passive agency that damages the vendors chances of getting a successful sale and move. Through regular feedback from viewings, clients get a picture of what potential buyers think about their property and this puts us in a position to act to ensure the best possible price is achieved.

5)    Marketing. First impressions are key, and at Williams we have always taken pride in offering the most innovative products to our customers for free! Expert photography, video tours with slow/fast motion effects, floorplans, buyer matching technology, are all on hand for our sellers to use when selling their property in Herefordshire. We also advertise on Rightmove and On The Market. As well as having most enquries coming from our own website www.williamsestateagents.co.uk or our social media accounts. Follow us here for instant property alerts:  https://www.facebook.com/WilliamsEstateAgentsHereford 

In short, if you’re looking for someone to sell your property who has local expertise, extensive industry knowledge, a personal service and is an honest and open communicator we feel our independent agency could be the best choice for you. 01432 277734

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