The average sale price of homes across Worcestershire has grown by 6% over the last 12 months, according to a new market update from leading local estate agent Nicol & Co.

Transaction prices in the Malvern area remain the highest, with the average up 9% to £290,500, Worcester up 6% to £237,500, and Droitwich up 4% to £273,500.

Matt Nicol, managing director of Nicol & Co, explained that the figures from the latest available Land Registry statistics for the year ended 31 July 2022 also reflected the post-pandemic market, with total sales across the county falling by 38% to 3,757.

Mr Nicol said: “The turmoil in the money markets and the disruption of energy supplies seemed to have stalled what was beginning to look like a return to a new normal after the pandemic.

“Tempting though it is to be flippant, with talk about how busy removal companies have been in Downing Street, we shall just have to wait and see as things unfold with a new leadership team.

“Concerns over energy costs are real and a great deal of attention is now focused on energy bills and this could well be the factor influencing more people to consider buying a new home.”

Mr Nicol pointed to the Property Academy Home Moving Trends Survey 2022 which revealed over half (51%) of home buyers would consider buying a new build and 17% are looking only at brand new homes.

And two thirds of those contemplating a new home purchase said they are attracted by the energy efficiency and lower running costs of new builds.

Mr Nicol added: “Five years ago, I established a specialist Land and New Homes department, which has grown to become an important part of our offer, supporting local developers, both in identifying land opportunities and marketing the finished product which we are currently doing across the county.”

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

Or to find out more about new developments, call 01905 930404 or email land@nicolandco.co.uk and newhomes@nicolandco.co.uk.

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For further information, please call:

For further media information or interviews, please call:

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

Tel: 01905 799072

Notes to Editors

Established in 2009, Nicol & Co is an award-winning estate agency offering advice on sales, lettings, new homes and land purchase. The company combines the latest in digital media with traditional high street courtesy and service to provide the perfect blend of old and new technology.

Prepared and issued by ASAP PR – 07990 978257.