High Wycombe's Two Speed Property Market

A two speed housing market? What does that mean. As we head into Spring the High Wycombe housing market is currently experiencing a distinctive dual-speed dynamic, a phenomenon that's become increasingly apparent in recent months. Houses that are valued and priced accurately are quickly finding new owners, a testament to the savvy buyers and sellers navigating our local market. Conversely, properties with inflated price tags are lingering, resulting in the longest average selling times we've seen since 2015. Then these homes are then REDUCED & REDUCED again, probably before selling at well below market value due to the poor marketing and advice given.

The latest insights from the Rightmove House Price Index offer a silver lining. Despite the challenges, we've observed a modest uptick in the average asking price for new sellers in our area—climbing by 0.9% or £3,091—to £362,839. This adjustment has nudged the annual price change back into positive territory, marking an end to six months of consecutive annual declines, with a year-on-year increase of 0.1%.

The initial weeks of 2024 have brought a refreshing surge in market activity in High Wycombe. Agreed sales have soared by 16% compared to the same timeframe last year, and even surpass the levels of the more stable market conditions back in 2019 by 3%. This resurgence is not limited to sales alone; we're also witnessing a 7% rise in new listings and a similar upswing in buyer inquiries.

These statistics paint a promising picture for both potential buyers and sellers in the High Wycombe area. The increased market activity signals a robust interest in our local properties, driven by the unique charm and value that High Wycombe offers. For sellers, this environment underscores the importance of accurately pricing homes to capture the attention of eager buyers. For buyers, the growing inventory and diverse options mean more opportunities to find the perfect home.

As we move further into 2024, it's clear that the High Wycombe property market is adapting and thriving. Whether you're looking to buy or sell, staying informed and responsive to the market's nuances will be key to success. As your dedicated estate agent in Buckinghamshire, I'm here to guide you through every step of this dynamic market, ensuring you make informed decisions whether you're buying your dream home or selling for the best possible price.