Demand for properties of all types in the Welshpool area is outstripping supply as the region is experiencing a boom in interest from potential home buyers, said a Welshpool estate agent.
James Evans (pictured), a director of Halls and manager of the company’s Welshpool office, has reported a “desperate shortage” of homes coming onto the property market in the old county of Montgomeryshire.
He is hoping to boost property stocks to satisfy demand from autumn buyers, many of whom are keen to move to the area because prices are considered to offer excellent value for money compared to other parts of the country.
“The RICS recently reported the lowest stock of properties on the market in 40 years,” said Mr Evans. “I believe it’s because people are sitting tight due to Brexit and the current political uncertainty that we are experiencing. Despite there being fewer sellers, demand has been good throughout the year and continues to outstrip supply.
“There is a desperate shortage of homes on the market in the Montgomeryshire area and that is discouraging people from selling because they are unable to find a place they want to buy. There is a lot of frustrated purchasing power out there waiting for the right property.
“We find that attractive and desirable properties that are priced correctly generally receive offers within a month of being marketed. Demand ranges from first time buyers to retired couples and there is especially strong interest in rural smallholdings.
“We are receiving a lot of enquiries from people from away who are keen to move into Montgomeryshire because the area is attractive and offers good value in comparison to other parts of the country.”
He also emphasised that farmland prices in Mid Wales are holding up compared to South East England and other parts of the country, which have reported a downturn. A 22-acre block of land at Bacheldre, Churchstoke exceeded the guide price by selling for £15,466 per acre at a recent auction.
“There haven’t been that many farms for sale this year and those that have come to the market at the right price have sold quickly,” added Mr Evans.
Mr Evans says he is happy to speak to prospective vendors across Montgomeryshire. He can be contacted on 01938 555552.
PICTURE: James Evans –shortage of property to sell in Montgomeryshire.