Review of 2022

Beat the January Blues with Rickitt Partnership

Today is Blue Monday – apparently the most depressing day of the year, when the Christmas festivities seem like a distant memory, and the nights are long and the days are dismally short.  But today has been a beautiful day – bright, clear and crisp and we think there is much to look forward to for the coming year. 

We always take the first couple of weeks of the new year to reflect on the previous year and look at likely trends and forecasts for the housing market for the upcoming twelve months.

Looking back at 2022 our Managing Director, Tim Rickitt, confirmed that it was a rather unprecedented year with demand consistently outstripping supply.

“In all my 30 years of working in the housing market, I’ve never seen a market quite like this one. There was a lack of good quality stock of homes to meet the demand from buyers, both local and those looking to relocate.”

 The result of this was that houses on the market received a great deal of interest and subsequently sold for robust prices.  All in all, it was a very positive year for the housing market.

Some of our key highlights from 2022

Post Office View, Ashton Hayes  Guide Price £240,000

The owners of this delightful period terraced cottage in the heart of the village had relocated to the South some time ago. The house had been intermittently on the market with a number of agents, but no sales were achieved.  The owners had reluctantly been forced to rent the property out before asking us to market it.  When we achieved a sale, the vendor was ecstatic to finally be able to buy a property in the South.

3 Chandos Close, Belgrave Park, Chester Offers Over £800,000

We sold this house to the owners only last year but work commitments required them to relocate and so they had to put the house back on the market. In the short time since they had owned it, they had not been able to do very much to the house so they were thrilled with the great price we delivered for them.

2 Clayton Court, Chester Guide Price £600,000

This beautiful period townhouse within the city walls had been on the market previously but with no success. We achieved a sale and for a higher asking price.

1 Little Mere, Christleton Guide Price £700,000

Whilst the couple who owned this property had not lived there for very long, they needed to relocate for work. We were thrilled to achieve a speedy sale at a good price for them.

Springwood House, Christleton Offers Over £800,000

The owner had not yet moved in but circumstances changed and they wished to sell. Calling on our strong understanding of the local area, amenities and schools, we achieved a good price for the house, reaffirming the fact that there is very strong demand in areas with good family homes and schools.

10 King Street, Chester Guide Price £650,000

We had sold this home, a period townhouse, to the owner a number of years ago and she asked us to sell it for her when she decided to move. A resurgence in demand for houses within the city walls has been seen and the owner was delighted when we sold the property for a good price

Lower Mill, Cuddington Guide Price £1,000,000

This was a personal one for Tim, he swam in the pond/lake as a child! It was not an easy sale but that is where an independent agent comes into their own, using all their skill – be it in marketing, negotiation or liasing with legal representatives to get the sales across the line – ultimately we achieved a good sale at a great price for our clients.

The Old Doctors, Farndon Guide Price £1,250,000

Another personal one, Tim had sold this property to the owner some 22 years ago. This beautiful property has now been passed into the care of a lovely couple who relocated from London and both parties were thrilled with the sale.

All in all there was strong demand in 2022 and we achieved good prices for our clients, sometimes abovr the asking price. So what of 2023? Well we predict that we will still see a strong demand for good quality properties. Of course, we would be naïve to think that pressures on household incomes and the rise in interest rates will not affect the market but indicators seem to imply that this will be more in the form of a gentle slowing of the market and that house prices are likely to stabilise somewhere in the region of the prices we saw in spring 2021. It is likely that unique, quality properties will be buffered to some extent from any price adjustments.  There is no doubt that it will be a tougher market, but that is where a good agent will come into their own, working harder and smarter for their client. 

If you are thinking about putting your house on the market in 2023 and would like to have a no obligation chat with Tim, please do not hesitate to contact him on 01244 322322 or tim@rickittpartnership.co.uk