Wed, 07 Sep 2022 | Bracknell market update
With the kids off school and many families jetting off on summer holidays, August is traditionally the quietest month for the property market. And yet in Bracknell we saw more buyers, more listings, and more sales in August than in July, showing that despite heatwaves and holidays, moving is still on the agenda for many Bracknell buyers.
Find out more about what happened in August in our Bracknell market update.
44% more buyers registered with us
In a break from the traditional August property market, the number of buyers registering with us skyrocketed last month. 44% more buyers registered with us in August compared with July, showing that far from being deterred by cost of living increases and affordability constraints, Bracknell buyers are actually more motivated to move than before.
One offer for every four viewings
Though we did see an increase in the number of properties coming to the Bracknell market last month, unfortunately this increase was not enough to satisfy the huge number of buyers searching for homes in the area. In fact, at Prospect we listed 26 properties in August but sold 28 in the same month, showing the sharp contrast between supply and demand in Bracknell.
It’s no surprise, then, that we received an average of one offer for every four viewings last month. This goes to show that our buyers are not just high in quantity, but high in quality, too. They’re not just browsing; they’re motivated to move!
Highest in demand
As always, two and three bedroom properties proved to be the most popular in Bracknell last month, with over 50% of buyers registering for this property type. Being in such high demand, they made up 66% of the properties sold in Bracknell in August.
In fact, 39 two bedroom properties were listed last month and yet 49 were sold, so we desperately need more two bedroom properties for sale in the area to satisfy the huge level of demand. Could you help by selling yours?
Three bedroom properties are also selling fast. 44% of the three bedroom properties listed in August were sold by the end of the month – so you’ll need to act quickly if you are hoping to secure a home like this one in the area.
Popular neighbourhoods
Since its first residents moved in in 2007, Jennett’s Park has remained a hugely desirable suburb for Bracknell buyers. Last month was no different, with 11 properties listed in the development and 11 being sold. In fact, one property we listed in the Park last month – a two bedroom property on Flycatcher’s Keep - received six offers and sold within just a couple of days of marketing!
Another popular suburb in Bracknell is Hanworth, positioned between Great Hollands and Birch Hill. In the last month alone, we sold three properties on Northcott Road in Hanworth, showing just how popular this area is amongst home buyers in Bracknell!
The high end of the market
The most expensive property to sell in Bracknell last month was a five bedroom chalet bungalow on Jocks Lane, priced at £1,000,000. If you are looking for a luxury home in the area, there are currently only four properties around Bracknell that are priced at over £1,000,000, so be sure to act quickly!
Register with Prospect Homes of Distinction, our branch for the finer properties in the home counties, to be the first to find out about high end homes in the area.
Investment opportunities
On the other hand, the least expensive properties to be sold last month were two one bedroom apartments on the popular Forest Park development, each priced at £150,000. On Horndean Road and Crofton Close respectively, these apartments are both located a short distance from Martins Heron train station, making for easy access to London and Reading.
With this in mind, both of these apartments would have made excellent investment opportunities for landlords looking to attract young professionals and commuters in Bracknell. There are currently over 30 properties priced at under £200,000 on the Bracknell market – so if you’re looking for properties like these to add to your portfolio, be sure to get in touch with your local experts at Prospect Bracknell!
The Bracknell property market is showing no signs of slowing down, and competition is soaring in the area. If you’re interested in selling, book a valuation with us today to find out how much your property could achieve on the current marketplace.
If you do not need help with a property sale, be sure to register with us to find out about properties you’ll love in the area before anyone else.
And as always, to discuss the Bracknell property market further with your local agents, call us on 01344 577 848.