🌆🏠 Gravesend Property Market 2024: Trends, Prices & Sales Recap
Here we look back at the 2024 Gravesham Property Market (DA11 & DA12) in terms of new listings and sales. Data up to December 31st, 2024 📅
As 2024 ends, the Gravesend property market has seen some major shifts in listings, prices, and sales. From a 32% drop in December listings to an 8% rise in detached home prices, the year has been a mix of highs and lows for buyers, sellers, and investors alike. Here’s a breakdown of the key insights from the past year and what they could mean for 2025.
📊 Market Trends: A Year of Contrasts
- Listings took a hit in December 2024, down 32% from last December, yet the total listings for the year were 8.5% higher than in 2023.
- Supply continues to outpace previous years, with listings 10% higher than the 3-year average—a sign of growing market activity despite seasonal fluctuations.
💷 Property Prices: Detached Homes Up, Terraced Homes Down
- The average asking price in Gravesend across all property types now stands at £386,025, a modest 1% from a year ago.
- Detached properties saw the biggest price jump, rising 8% to £729,078, indicating continued demand for larger homes.
- Terraced homes, however, dropped in value, with prices down 7% compared to December last year, signalling potential affordability concerns or shifting buyer preferences.
📈 Sales: A Sharp December Decline Despite a Strong Year
- Total gross sales for 2024 reached 1,257, a 14% increase over 2023 and 7% above 2022— a solid year for transactions.
- December sales fell sharply, with just 56 properties sold, marking a 46% year-on-year decline and a 50.9% drop from November's figures.
- Despite the seasonal slowdown, the total annual sales remained 2.4% above the 3-year average, highlighting overall market resilience.
🔎 What Does This Mean for 2025?
With listing activity rising but sales slowing in the final months, 2025 could bring new opportunities for buyers and sellers alike. Detached homes are gaining value, while terraced properties may offer better deals for first-time buyers. The drop in December sales raises questions about demand heading into the new year, but with annual figures still outperforming historical trends, the market remains in a strong position. December is typically a ‘slower’ month.
🔥 Curious about the stats? Read on to get the full scoop! 📖
📋 Listings
- 📉 Listings for last Month (December 2024) decreased by 32% when compared to December 2023 (from 82 to 56).
- 📈 Accumulative Total Gross Listings YTD (1539) are 8.5% higher than 2023 YTD levels (1408) and 14% higher than 2022 (1325).
- 📊 This year's YTD listing stand at 1539, which is 10% higher than the historical 3-year YTD average of 1387 properties (2023/22/21).
📋 Asking Prices
- 💷 The average asking price in Gravesend, for ALL property types, at December 2024: £386,025 (an increase of 1% when compared to December 2023).
- 🏡 The average asking price in Gravesend, for a Detached property, at December 2024: £729,078 (an increase of 8% when compared to December 2023).
- 🏘️ The average asking price in Gravesend, for a terraced property, at December 2024: £317,548 (an decrease of 7% when compared to December 2023).
💰 Sales
- 📈 Total Accumulative Gross Sales YTD (1257) are 14% higher than 2023 YTD levels (1082) and 7% higher than 2022 levels (1170).
- 🏡 Sales for December: only 56 properties were sold STC in December 2024, a 46% decrease from last December figures (82) and a 50.9% decrease from last month's Gross Sales figures (114).
- 📉 Total accumulative Gross Sales YTD stand at 1257, which is 2.4% above the YTD average of the last 3 years of 1227 (2023/22/21).
❓ Have Questions?
If you have any queries please do not hesitate to reach out, we are here and ready to help. 📞✉️
Richard 🌟
📞 01474 321957
📧 Rcihard@mandmprop.co.uk