Despite the coronavirus pandemic the property market in Mid Wales and Shropshire has boomed over the past 12 months, a new regional market report reveals.

Demand for good quality homes or property for renovation or conversion is at a four-year high, providing house-sellers with a good opportunity, according to The Property Market Report, produced by the Guild of Property Professionals.

Open the report here

House prices throughout the region have risen between 3% and over 7.5% and demand for larger residential properties with plenty of outdoor space is top of the agenda for many house buyers.

Properties offering a work-life balance

According to Andrew Turner, a Partner at estate agents Morris, Marshall and Poole with Norman Lloyd, this, in principle, is down to more people working from home and wanting to space to separate work and family life.

The latest regional market report said “The desire to move remains on the agenda for many as the housing market proved one of the bright sparks of the economy during 2020.”

House price growth

Powys – 4.5% to 5.9%

Shropshire – 7.5% and more

Ceredigion – 6.0% to 7.4%

Gwynedd – 3.0% to 4.4%

Herefordshire – 7.5% and more

New mortgages opportunities expected for lower deposits

News that 95 per cent mortgages could return in April will provide more opportunities for first-time buyers and those looking to move but don’t have the necessary deposit or equity in their current home.

The market report states: “2020, a year in which the housing market defied expectations. At 7.6%, annual price growth across the UK is at its strongest since the summer of 2016.

“Over 129,000 homes are believed to have changed hands in December, 32% more than in December 2019 with sales for the year projected to be just 11% lower than in 2019 (HMRC).

“The mortgage market has recovered. Approvals in 2020 were up 3.7% on the previous year (Bank of England) and with an estimated 9–10% more sales agreed in 2020 than in 2019, the start of 2021 has been positive.”

Key points in the latest Mid Wales and Shropshire property market report are:

House prices up 7.6% on average

Property sales up 31.5%

Mortgage approvals up 3.7%

Gross mortgage lending up 6.8%

“There is hope that a semblance of normality will return during 2021 as the vaccination programme continues apace and lockdown restrictions are gradually lifted. The housing market remains active and with lifestyle change the reason for a move for many, this should ensure continued activity throughout the year,” said Iain McKenzie, CEO of the Guild.

A 160-acre farm complete with a four-bedroom farmhouse has attracted interest since going on the market.

Penygraig at Trefeglwys, near Llanidloes, Powys, has been placed on the market at £550,000 through Morris, Marshall and Poole with Norman Lloyd.

The well-known farm sits on the edge of the Trannon Valley and will be sold as either a single farm or in up to eight lots. Tenders have to be submitted by midday on Thursday, 18 March 2021.

Tony Evans, a Partner at MMP/NL who is handling the sale, said: “We’ve received a lot of interest in the property due to its size and location. The land offers agricultural, environmental and diversification uses, and we believe there will be significant interest in the main farm as well as the additional lots of land.”

Lot 1 includes 24.29 acres of land and the main stone-built farmhouse which has been refurbished over time and includes four bedrooms. There is planning permission for an extension into an adjacent timber oak framed farm building for additional accommodation.

It also includes a range of farm buildings, including a traditional lap boarded barn, a timber and cast-iron barn, a three-bay barn and a modern scotch barn extension.

Additional buildings include a four-bay timber pole cattle loose house and a further six-bay timber pole loose cattle house.

Other farm buildings are also nearby.

Other lots are available with a range of land between 3.22 and 28.42 acres.

Full details of the farm sale can be found at www.morrismarshall.co.uk or by telephoning the Rural Department on 01938 552371.

House buyers and sellers throughout Mid Wales and Shropshire have realised the strengths of their local estate agents throughout the Covid-19 pandemic.

House sales have jumped in Mid Wales and Shropshire over the past six months with the reduction in Stamp Duty and Land Transaction Tax costs.

And while home buyers and sellers have had to adapt to new ways of viewing or valuing properties, high street estate agents have been praised for maintaining their quality of service and professionalism during the coronavirus pandemic.

People want to deal with a person when selling their home

“What has come out of the pandemic is that homebuyers and sellers want to be able to deal with a person at an estate agent and not just an online portal,” said Andrew Turner, a Partner at Morris, Marshall and Poole with Norman Lloyd.

“The changing circumstances and regulations created some confusion in the market, but those buying or selling through us have said the personal service offered has helped ensure the process is as smooth as possible.

“The ability to market properties nationally through our online networks, as well as regionally and locally through our offices and team, combines the best of both worlds.”

One example was the purchaser of a property through our Welshpool office.

“I was a purchaser of a property in September 2020 and the vendor was your client. I have had a lot of positive contact with Bryan Jarman. Suffice to say that my 'old school' perception of customer service was not only met but I also received after care.

“…I would thoroughly recommend MMP.  Between the both of us we were able to drive the completion seven days before Christmas. I'm impressed that during this global pandemic my emails/phone calls were managed with excellence in relation to time frame set by Bryan.”

Local service with national reach

“We have seen people who thought a flat fee online sale agent would be an easy way to sell their home coming to us months later to take over the sale arrangements.

“For one, most estate agents such as us offer a no sale, no fee approach. Our clients deal with a person who lives locally and who undertakes the appraisal, photography and promotion of the property. They know everything is in hand and being taken care of.

“With online only estate agents, a lot of the legwork, photos and viewing arrangements have to be undertaken by the vendor. And they’re paying for that upfront.”

Mr Turner said there was strong demand for residential property throughout Powys, Ceredigion, Shropshire and Gwynedd.

“We’re inundated with enquiries for good quality property. In many cases people want additional space, possibly because they’re working from home. Outdoor areas, the ability to access walks and recreational areas and a sense of community are other major factors,” he said.

The buoyant property market continues

“There is no doubt the Stamp Duty and Land Transaction Tax holiday has helped, but the market remains strong and buoyant and anyone considering selling their property should contact us for a free appraisal.”

MMP/NL can undertake a free appraisal of a property and market it to potential buyers throughout the UK through its online marketing tools and being a member of the Guild of Property Professionals.

MMP/NL has offices in eight towns, including Newtown, Oswestry, Aberystwyth, Welshpool, Llanidloes, Rhayader, Tywyn, Machynlleth and a showroom at Aberdyfi. It also has a specialist Rural Team based at Welshpool Livestock Sales and an associate office in London.

For more information, contact one of its local offices by visiting www.morrismarshall.co.uk

With demand for properties with large amounts of living space, gardens and access to the countryside on the rise, homes like Cefn Broniarth in Mid Wales are typical of those being snapped up.

The four-bedroom property, just two miles from the village of Guilsfield, near Welshpool, Powys not only has large living space, it comes with gardens and a paddock amounting to 4.3 acres.

“With more people working from home there has been a rise in demand for properties with large amounts of family living space, as well outdoor areas and gardens,” said Rob Hudson, a Partner at Morris, Marshall and Poole with Norman Lloyd.

“Areas such as those surrounding Guilsfield have always been popular due to the close proximity to the Shropshire border and access to Oswestry and Shrewsbury, and further on to the North West and Midlands.”

Extended with large living space and adjoining paddocks

Cefn Broniarth is a detached, four-bedroom property that has been extended. It includes adjoining outbuildings, large and spacious gardens and adjoining paddocks.

This is in addition to the surrounding countryside views.

“The property has the opportunity to be extended in the future and the paddocks could be used for equestrian or livestock purposes,” said Mr Hudson.

The property is on the market at £450,000. An additional paddock extending to 2.98 acres is also available through a separate sale.

More details can be found at www.morrismarshall.co.uk or emailing welshpool@morrismarshall.co.uk or telephone 01938 554818.

MMP/NL can undertake a free appraisal of a property and market it to potential buyers throughout the UK through its online marketing tools and being a member of the Guild of Property Professionals.

MMP/NL has offices in eight towns, including Newtown, Oswestry, Aberystwyth, Welshpool, Llanidloes, Rhayader, Tywyn, Machynlleth and a showroom at Aberdyfi. It also has a specialist Rural Team based at Welshpool Livestock Sales and an associate office in London.

For more information, contact one of its local offices by visiting www.morrismarshall.co.uk.

A Mid Wales collectables auction that included a rare sales catalogue for the Cyfronydd Estate, now home to Lord Hague, attracted bidders from throughout the UK.

Furniture, documents and other items of historic interest were sold as part of the auction sale held by Morris, Marshall and Poole with Norman Lloyd at Welshpool Livestock Sales last month.

A sales catalogue detailing the land, property and other items in the 1927 sale of the Cyfronydd Estate near Welshpool, sold for £310. It had expected to go for £100.

Other items included a circa 1870 French ebonised Credenza inlaid with several porcelain plaques that was sold for £2,500.

“This was the second such auction we held following the success of the first back in the summer and we were once again impressed at the level of interest from bidders,” said Tony Evans, a Partner at MMP/NL.

Bidders from throughout the UK

“The online auction attracted interest from throughout the UK, as well as locally here in Mid Wales.

“Most items sold well above their guide or reserve price, demonstrating the demand for such sale items.”

Other items of note sold included a 19t century gilt and ormolu clock which sold for £600; a 19th-century oak/mahogany banded long case clock, selling for £580; and an 18/19th-century oak dresser that reached £520.

More than 150 items were included in the sale. Items include a Welshpool Grandfather clock, a rare Lachenal and Co (London) concertina, numerous Oak dressers, a range of furniture, a good number of Beswick farm animals, silver, china, paintings, and other historic items and collectables.

A spring auction is already planned, with a date expected to be announced shortly.