Property in Horsforth is hotter than ever according to local estate agent HOP, and an increasing number of home hunters are now pursuing a ‘sell before you buy’ strategy as prices in the town soar by an average of 11% in just six months according to Rightmove.
Data from the property search giant reveals that asking prices have risen by 9%, to an average of £308,461 in LS18 4, which incorporates the southern side of Horsforth, roughly between the River Aire, Town Street and Broadgate Lane.
However, in LS18 5, which stretches from Town Street and Broadgate Lane up towards Bramhope, prices are up by 13% to an average of £371,923. As a result, Horsforth has significantly outperformed the national market, which has seen an average increase of 6.7% in the past six months, meaning the average price of a UK property now stands at £337,371.
Recent data also shows a big increase in new properties being listed over the last 12 months in Horsforth, with a 39% increase in LS18 4, and 46% more in LS18 5.
Leeds based HOP expanded into Horsforth in early May, opening a new office on New Road Side, offering residential property sales and lettings, as well as being home to HOP’s property management team and the company’s training centre.
HOP has enjoyed a busy 10-weeks since its new branch opening and has been offering sellers in Horsforth the opportunity to try its estate agency services free of charge. The launch offer will end shortly, with only a few spaces remaining for those wanting to sell for free in LS18.
Rich Hare, who leads HOP’s sales team in Horsforth, said: “This year Horsforth was named as the UK’s fifth most sought-after area for homebuyers and the town was praised as a ‘city suburb with a proper country feel’ in The Sunday Times Best Places to Live 2021 guide. All this has created a real buzz throughout both the property market and the town.
“Despite data revealing a significant increase in the number of homes being listed, there is still a huge imbalance between demand and supply in Horsforth and the market is fierce.
“Since we opened the doors of our new office in May, every home in Horsforth that we have sold has gone for more than the asking price and generated multiple offers. For one recent listing, we booked eight viewings within six minutes of launching it, which reinforces the level of demand that we’re currently experiencing.
“As a result, many people are finding that a ‘sell before you buy’ strategy, offers the best chance of securing a home in this fast-moving market, where sellers line up a buyer, subject to contract, before entering the race to secure their own purchase. This puts them in a strong position to buy suitable properties as soon as they come to market. Many are also choosing to complete their sale and rent until they find their dream home.”
Rich added: “This year, there certainly hasn’t been the usual summer slowdown in market activity, so any potential buyers who want to move before Christmas, who would usually wait until autumn before starting the process, need to act now.
“As an additional incentive to generate new housing stock and repay the warm welcome that we’ve enjoyed in Horsforth, we’re currently selling and letting homes in LS18 for free, which is proving extremely popular with both sellers and landlords alike.”
Complementing HOP’s existing sites in Leeds city centre and Pudsey, the new office specialises in selling and letting property throughout Horsforth and its neighbouring towns and villages including Rawdon, Kirkstall, Cookridge and Yeadon. For further information about HOP and its wide range of services, visit www.hop-property.co.uk.