Gap between the cheapest and priciest homes in Staffs in first
THE most expensive and cheapest houses that sold in the first three months of the year across Staffordshire have been revealed, and they include a flat at beautiful Rangemore Hall, near Burton, that sold for sold for £1.125 million.
It comes as average house prices across the country are rising, and more people are once again looking to make a move after a turbulent few years.
In Staffordshire, the most expensive house sold in the last three months went for a whopping £2,250,000 on March 9. It was Haddon House based in Shenstone, Lichfield.
At the other end of the spectrum was a flat in Hamilton Avenue, Uttoxeter, which sold for £47,000 on February 25.
The gap between the least and expensive and the most expensive was £2,203,000.
Average house prices across the UK increased by 10.9 per cent over the year to February 2022, up from 10.2 per cent in January 2022, according to the most recent figures from the Office for National Statistics.
Between the beginning of 2016 and the end of 2019, there was a general slowdown in UK house price growth, driven mainly by a slowdown
in the south and east of England.
The start of 2020 saw a pick-up in annual growth before the coronavirus restrictions were put in place at the end of March 2020.
Recent price increases may reflect a range of factors, including some possible changes in housing preferences and a response to the changes made to property transaction taxes across the nations.
In July 2020, the Chancellor announced a suspension of the tax paid on property purchases in England and Northern Ireland, with similar suspensions announced in Scotland and Wales.
In England and Northern Ireland, properties up to the value of £500,000 would incur no tax, while
the thresholds for Scotland and Wales were £250,000. This may allow sellers to request higher prices as buyers’ overall costs are reduced.
The tax holiday for Scotland ended on March 31, 2021. It was extended until June 30, 2021, in Wales, while in England and Northern Ireland it was extended until the same date, but the threshold will then decrease to £250,000 before ending on September 30, 2021.
This may have accounted for a rush of demand in mid-2021, as annual price rises soared to a 13.5 per cent increase in the year to June 2021. There was another smaller rush in September, with annual growth at 11.5 per cent that month.
According to the Land Registry, 22,298 home sales have been registered for January, 29,353 for February, and 9,519 for March. It may take several weeks for sales to be registered after completion, so some sales from later in the period may not be listed yet. The impact of coronavirus has meant that it is taking longer for sales to be registered.
The Land Registry has also warned its services are likely to be disrupted due to the pandemic, particularly the process of registering a new sale, which likely means a longer delay between the house sale completing and the record being updated at the Land Registry.
Based on the data covering the period so far, across England and Wales there were 1,883 £1m or more sales, including 374 at £2m or more.
It lists the price paid for every property bought at market value. The data also includes sales under a power of sale/repossessions, buy-tolets (where they can be identified by a mortgage) and transfers to non-private individuals.
As the data relies on buyers, or their solicitors, registering the sale and the price paid with the Land Registry, mistakes in listings may happen, they are usually corrected at a later date. Issues can include figures with too many digits or shared ownership prices paid for a part share listed as the whole price.
Most Expensive homes in Staffordshire:
■■Haddon House, St Johns Hill, Shenstone, Lichfield, Lichfield, which is a detached house, sold for £2,250,000 on March 9. ■■Romancroft, Longacres, Little Aston, Sutton Coldfield, which is a detached house, sold for £1,800,000 on March 2.
■■High Meadow, Hill Top, Rugeley, which is a detached house, sold for £1,750,000 on February 8. ■■Ha’penny Hatch, Endwood Drive, Sutton Coldfield, which is a detached house, sold for £1,437,500 on February 11.
■■Longfield, Stretton Road, Lapley, Stafford, which is a detached house, sold for £1,125,000 on March 4. ■■Apartment 1, Rangemore Hall, Dunstall Road, Rangemore, which is a flat, sold for £1,125,000 on February 7.
■■Springview Manor, Warstones Hill Road, Nurton, Wolverhampton, which is a detached house, sold for £1,115,000 on March 3.
■■Sale Cottage, Sale Lane, Alrewas, which is a detached house, sold for £1,100,000 on January 19. ■■Cedar Tree Cottage, School Lane, Hints, Tamworth, which is a detached house, sold for £1,065,000 on