Tue, 09 Aug 2022 | Bracknell market update


July saw temperatures reach record-breaking heights in Bracknell. Was the local property market equally as hot? Or did things start to cool down for property sales in Bracknell? Read on to find out…

14% more buyers registering with us

During the heatwave, the people of Bracknell were buying paddling pools, stocking up on ice lollies, switching their fans to full blast… and registering with their local estate agent. The number of buyers registering with us in July was up 14% on the June numbers, showing that buyers remain unperturbed by rising house prices and the cost of living crisis. Perhaps it was the hot weather that drove them to start the search for a new home – that heatwave had us all dreaming about glorious gardens!

More three bedroom properties sold than were listed last month

Just as in June, two and three bedrooms proved to be the most popular property type in Bracknell in July, making up almost 75% of properties sold last month. Again, the number of three bedroom properties sold last month overwhelmed the number listed, showing the sheer popularity of properties this size in the area.

More choice for buyers of four bedroom properties

Buyers of four bedroom properties will rejoice, as properties of this size continued to come to market in high numbers in July. They sold in high numbers too, and for a range of prices: the most expensive being a £800,000 detached home on Forest road in Binfield village, and the least expensive being a £350,000 terraced property on Viking, Great Hollands. With this in mind, if you’re looking to purchase a property a four bedroom property, you’ll benefit from an increase in choice on the market right now whatever your price point. However, with demand remaining so high, we’d recommend getting your property on the market as soon as possible to stand out against the competition as a proceedable buyer.

The high end of the market

On the high end of the market, the most expensive property to sell last month was a seven bedroom home on Frog Lane priced at £1,350,000, which is believed to date back to the sixteenth century. For those looking for properties in Bracknell at this price point, you’ll need to act fast, as there are only five on the market right now, and none were listed in July!

Jennett’s Park homes in high demand

The number of properties sold in the ever-popular Jennett’s Park development in July was almost double that of June, showing that demand is soaring for homes in the development this summer. Though properties of all shapes and sizes are selling in the park, almost half of the homes sold in the development last month were three bedroom properties – so if you have a three bedroom property to sell in Jennett’s Park, you are set to benefit from a golden combination in today’s marketplace!

What’s more, one in three properties listed in Jennett’s Park last month have been sold already, showing the sheer speed in which things are moving for properties in the area.

School applications are looming

Though applications don’t have to be submitted until January, the current completion time for properties on the market right now is around 150 days, taking us to the beginning of 2023! If you’re relying on a house move to get your child into your favourite school in the area, you’ll need to put your property on the market now to be in with a chance of being in your new address for January.

Catchment areas for the high-esteemed King’s Academy prove to be extremely important for family buyers, driving up the popularity of properties in Temple Park and surrounding areas. Competition is high – act soon to put yourself in the best position to secure your dream home near your dream school.

Investing in Bracknell

Excluding retirement properties and shared ownership, the cheapest properties to sell in Bracknell last month were a one bedroom apartment on Pyegrove Chase, ideally located near Martins Heron train station, and a three bedroom split level maisonette above Harmans Water shops which required some modernisation. Each were priced at £170,000 and would have made excellent investment opportunities for those looking to capitalise on the growing popularity of Bracknell as a place to live.

If you looking to purchase an investment property of this size, there are over 45 properties on the market right now for under £200,000 which would make great buy to lets. If you’re looking for a family home to add to your portfolio, speak to your local experts at Prospect Bracknell, who will guide you on the school catchment areas to purchase in and the best properties for investment in the area.

 

The property market in Bracknell is currently as hot as the weather, but is it just a passing heatwave? If you’re looking to sell, act quick to capitalise on the busy marketplace - Book a valuation today see just how much you could achieve for your property under current market conditions. And don’t forget to register with us to be the first to know about properties you’ll love coming to market!

If you’d like to discuss the market further, contact our Bracknell team on 01344 577 848.