Vibrant property market on Shotley peninsula following lockdown

By Derek Davis 26th Jul 2020

Local News by Derek Davis 26th Jul 2020

Shotley peninsula's property market is back in full swing following a lockdown low with this month's stamp duty cut, fuelling, according to experts.

There are nearly 250 homes for sale on the Shotley peninsula with prices averaging ££202,260 which is lower than the national figure of £231,000. See our full property listings here...

But while it is a sellers market right now, things could change if the economy continues to struggle.

Richard Donnell, director of research and insight at Zoopla, said: "We expect demand levels to remain strong in the coming months, although there will likely be some moderation.

"In terms of house prices, we expect the annual rate of house price growth to remain around 2-3% until approximately the end of September 2020.

"However, the cloudier outlook for the economy may start to pull house prices down towards the end of the year and into 2021.

"In the rental market, rents remain relatively steady with year-on-year growth at around 1.5%."

As of March 2020 the average house price in the UK is £231,855, and the index stands at 121.6. Property prices have fallen by 0.2% compared to the previous month, and risen by 2.1% compared to the previous year.

With an eclectic mix of housing in a beautiful setting, the peninsula is becoming even more popular with house buyers able to choose from one-bedroom flats for less than £100k to new builds in excess of half a million pounds, or this £695k home in Rectory Field, close to Pin Mill.

Builders are close to completing a development on the main road between Chelmondiston and Shotley, with three bed houses starting at £310,000.

If you prefer a home with a swimming pool then £840k, could get you this four-bedroom house in Woolverstone.

This [L]https://shotleypeninsula.nub.news/t/4-bedroom-detached-house-in-church-walk-1595264766[L+] four bedroomed home in the quiet hamlet near Shotley St Mary's Church, is on the market for £450,000.

[L]https://shotleypeninsula.nub.news/property[L+] Click here for our property section to see hundreds more houses on the market.