Bishop's Stortford Property Market Update

House Prices Steady with a 4% Increase Since 2021

The property market in Bishop’s Stortford, CM23, has demonstrated stability over the past year, with an overall average house price of £496,825. This marks a slight increase compared to the previous year and reflects a 4% rise from the 2021 peak of £479,275.

Detached Properties Lead the Market

Detached properties have been the most significant contributors to the market, selling at an impressive average price of £751,000. These homes remain highly sought after, reflecting their appeal to families and those seeking more space.

Semi-Detached Properties and Flats

Semi-detached properties also saw robust sales, averaging £494,259. These homes offer a balanced option for buyers looking for a mix of space and affordability. Flats in the area fetched an average price of £246,655, catering to first-time buyers and investors seeking rental opportunities.

Year-on-Year Comparison

Overall, the sold prices in CM23 over the past year have remained stable compared to the previous year. This consistency indicates a resilient market that continues to perform well despite broader economic fluctuations.

Market Insights and Trends

The stability in Bishop’s Stortford's property market can be attributed to several factors, including its desirable location, excellent transport links to London, and highly-rated schools, making it a popular choice for families and commuters alike.

Buyers and sellers can take confidence from the current market conditions. For buyers, the variety of properties available at different price points offers numerous opportunities to find the perfect home. For sellers, the steady demand and stable prices ensure a favourable environment to list properties.

Conclusion

Bishop’s Stortford continues to be a strong performer in the property market, with steady prices and consistent demand. Whether you’re considering buying or selling, now is a great time to engage with the market and explore your options.

If you’re looking to buy or sell a property in Bishop’s Stortford, our team is here to help. Contact us today to discuss your needs and take advantage of our local expertise on 01279 801 165 or hello@willmottandlake.co.uk.