49% rise in residential property sales across Worcestershire in last 12 months

Residential property sales across Worcestershire have surged by 49% to 4,940 in the last 12 months, according to the latest market update from leading local estate agent Nicol & Co.

Matt Nicol, managing director of Nicol & Co, said the increase reflected “a significant post-lockdown recovery” in the county, with sales in the areas represented by its offices as follows:

  • Worcester, 54% up to 2,122
  • Malvern, 45% up to 723
  • Droitwich, 17% up to 489

Mr Nicol said: “Average house prices have also increased significantly across the county in the last 12 months, with Malvern rising 9.6% to £283,000, Droitwich up 6.4% to £277.700 and Worcester up 6.2% to £241.400.”

Mr Nicol explained that the local lettings picture had been “more fluctuating” over the last twelve months, with the following statistics:

  • Worcester, 7% up with a monthly rental average of £761
  • Droitwich down slightly to £755.
  • Malvern 6.4% ahead at £803.

Nicol & Co’s local market analysis is based on the latest statistics from Dataloft.

Mr Nicol added: “In February, we achieved on average 101.81% of the asking price on behalf of our clients.

“In such a dynamic market, if you are considering a move it’s important to know what your budget is, whether that’s getting an updated valuation on your existing home or checking out the latest mortgage deals on offer.”

Anyone selling, buying or renting in Worcestershire can find out more about Nicol & Co via www.nicolandco.co.uk.

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For further information, please call:

Matt Nicol, Managing Director, Nicol & Co, 226 Worcester Road, Droitwich Spa, WR9 8AY

Tel: 01905 779072

Prepared and issued by Steve Dyson at ASAP – 07990 978257