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Bishops Stortford Can Capitalise On Demand For Commuter Towns

May 22nd 2021
By: Intercounty
Bishops Stortford Can Capitalise On Demand For Commuter Towns

We all know events of the past year has caused many households to evaluate what is important to them. There have been a range of studies and surveys by property market professionals which indicate people are moving out of the city for a more relaxed pace of life.

At Intercounty, we believe there are many fantastic locations that allow people to enjoy a quieter life, but still ensure they are connected to the heart of London. Bishop’s Stortford is a perfect example of a location where you can enjoy the best of both worlds.

According to Rightmove, as of the mid-April 2021, the Bishop’s Stortford housing market can be described as such:

Properties in Bishop's Stortford had an overall average price of £452,374 over the last year.

The majority of sales in Bishop's Stortford during the last year were detached properties, selling for an average price of £608,761. Semi-detached properties sold for an average of £453,521, with terraced properties fetching £347,853.

Overall, sold prices in Bishop's Stortford over the last year were similar to the previous year and 2% up on the 2018 peak of £445,604.”

Bishop’s Stortford is well connected

With some journeys between Bishop’s Stortford and Liverpool St Station taking less than 40 minutes, and with more than 85 trains per day, Bishop’s Stortford is a fantastic commuter choice.

Leading property portals argue the case for moving out of the cities

Rightmove’s Director of Property Data Tim Bannister said: “Suburbs are also faring well as some people move further out from the centre of cities. Both sale and rental properties in city centres have been suffering over the past year as the usual appeal to live there has temporarily been taken away, leading to more stock than usual being available, but we may see these start to shift more quickly over the next few months as lockdown restrictions continue to be removed.”

Tim continued by saying; “In a traditional year there would be a couple of record days for visits or enquiries being sent by home-hunters, but the pace of the current market caused by a combination of restrictions easing, a desire for more space and people considering different locations, has led to records tumbling week after week. Last Wednesday set a record of over 9.3 million visits to Rightmove, and March saw time spent on site surpass two billion minutes in a month for the first time.”

Gráinne Gilmore, of Zoopla, said: "We have observed the time taken to sell a home changing in many areas during Covid-19 pandemic. While the number of days it takes between listing a property to agreeing a sale in one of the traditionally fastest-moving moving markets such as Manchester, Liverpool or Sheffield has stayed the same, sellers in some adjacent areas may now see their properties selling just as quickly. Buyers will have to move fast but the speed at which this stage of the buying process is moving also means that those looking to take advantage of the stamp duty holiday extension will be giving themselves the best chance of doing so.”

In a separate study carried out by Zoopla, the time taken to let a property has fallen by 30% compared to this time last year.

For property sector enquiries in Bishop’s Stortford, please feel free to call us on 01279 757250 or why not email us at bishopsstortford@intercounty.co.uk. With considerable experience in the local market, and free valuation services, we look forward to helping you move.