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The Market Is On The Move!

We’ve seen a noticeable shift in momentum this spring, with homes selling faster in April than earlier in the year. On average, it took 36 days for a property to go under offer, compared to 38 days across the first quarter. That might not sound dramatic, but in this market, every day counts.

This is typical of what we expect in Q2, which consistently outperforms other periods of the year. Historically, homes sell around five days quicker than in Q1 — and as much as ten days faster than in Q4. Regionally, the North East and West Midlands led the charge for speed, while even London saw improvements.

It’s a good reminder that well-presented, well-priced homes are attracting strong interest — and with the right marketing strategy, we’re still seeing competitive offers and shorter timeframes

Sources: Bank of England, Rightmove, Dataloft by PriceHubble, ONS, UK HPI, Zoopla, Halifax

Local Market Roundup

The latest land registry data for the past 12 months reported 3630 total transactions across the WR postcode reflecting a 14% decline in transcations compared to the previous year with an average sales price of £295,783. Worcester recorded 1616 transactions, down 13% while Malvern saw 507 transactions down 17%. In Droitwich transactions fell by 18% to 398.

Over the same period the average sale price increased by 2% to £295,783. Houses represented 89% of total sales averaging £322,527 while flats making up the 11% averaged a sale price of £150,218. Malvern’s average price rose by 3% to £317,616, Droitwich saw a 1% increase to £282,508 and Worcester’s average increased slightly by 3% to £317,616.

The increase in average sales price over the last five years is shown below:

 

Over the past year the average rent for properties in Worcestershire increased to £905 per month representing a 5% increase in average rent over the year. 42% of homes let in the past 12 months were flats, achieving an average rental value of £756 per month. Houses achieved an average rent of £1,029 per month.
In Droitwich rents have climbed by 9% to £872 per month with flats averaging £697 and housing averaging £1048. Malvern experienced an 6% increase reaching £1,031 per month, with flats averaging £856 per month and houses £1,122. Worcester’s average rent rose by 1% to £875, with flats achieving an average rental value of £766 and houses £996 per month.

Source: Dataloft Market Rental Analysis (rental data is limited and based on achieved rents for approximately 10-15% market share, depending on location)

 

National Market

The average house price rose to £271,415 in March, a 6.4% year-on­year increase. The average price of property coming to market rose by 0.6% this month to a new record of £379,517 (Rightmove). Zoopla expect house price growth to slow down to between 1% and 1.5% in the coming months.

Economy

The Bank of England has cut interest rates by 25 basis points, bringing the base rate down to 4.25%. This comes as the UK economy grew more strongly than expected, with a 0.7% rise in Q1 2025 – largely driven by the services sector. Meanwhile, CPI inflation rose to 3.5% in the 12 months to April, up from 2.6% in March.

Lettings Market

Voids remain unchanged during April at 21 days, indicating consistently high demand across the market. Rents are forecast to increase by 3-4% over 2025 as slower growth in large cities is offset by faster growth in more affordable markets. The average rent in April was £1,298, up 0.3% year on year. 

If you’re a landlord with questions, our experienced lettings manager, James, is here to offer valuable insights and support. James has also recently released his book, Home, a comprehensive guide for current landlords and those looking to invest in property. You can purchase a copy, available in both paperback and Kindle, by clicking here.  

Community News

Getting ready for this year’s The Big Worcestershire Garage Sale? Don’t miss this episode of the Just Local Podcast with Expert Organiser Kath Holmes from Uncluttered by Kath. In our live interview, we explored:

• How to stop feeling overwhelmed and know where to begin
• The emotional and practical benefits of decluttering
• How to turn your clutter into cash
• What items tend to sell best
• How to create the most effective layout

… and so much more!
See all the streets taking part in this year’s event on our interactive map.

Market Insight

 

This market update draws from a range of trusted sources to provide you with clear, evidence-based insights to guide your property decisions. Our team is committed to staying updated on latest market trends and legislative changes, ensuring you have the most current and relevant information.

If you’re thinking of making a move, this update offers valuable insights to help guide your decision-making. Our expert mortgage advisors are on hand to provide personalised advice, helping you determine whether moving or remortgaging is the best option for you. We’re here to ensure you make informed choices for a seamless transition in the year ahead. For more information, click here. 

Feel free to reach out to us anytime. We’re here to assist you in making informed property decisions and navigating your property journey.

For additional insights, follow us on social media, where we share regular updates, including our weekly Mortgage Watch, available on the Nicol & Co Instagram page @nicolandco_estateagents or through @Matt_the_Agent.