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House prices continue to rise in the East of England

October 25th 2016
By: Melanie
House prices continue to rise in the East of England

The ONS, Office of National Statistics, revealed that despite the turbulent market, house prices have still increased by 12.1% in London over the past year. The average UK house stands at £219,000 compared to London where the average property costs £489,000. The last time London experienced a house price drop was 19 months ago, in January 2015. However house prices in London are just starting to show signs of slowing down.

Economist, Thomas Fisher from PwC commented; “We project that average UK house price growth for 2016 will be over five per cent, but will cool to around one per cent in 2017 in response to slower expected economic growth next year."

Despite the slow down in the capital, house prices in the East of England, including Hertfordshire have continued to rise by 13.3%, the average cost of buying a house now stands at £277,000, this is the largest increase in house prices we have seen across the UK, partly due to the fact that investors are realising that they can see more capital growth on their investments if they buy in the East, and also due to people choosing to leave the capital to buy properties which offer more value for their money.

If you are thinking of buying a property in the East of England then Intercounty Royston has this light and spacious 3 bedroom property for sale, (featured below) in the sought after village of Bassingbourne. The property comprises a lounge, dining room and kitchen with three bedrooms and a bathroom on the first floor. The village of Bassingbourne has good access to amenities and Bassingbourne School. EPC Band C.

Screen shot 2016 10 29 at 11.27.04

Features:

  • EPC Band C
  • Three Bedrooms
  • Semi-detached
  • Corner Plot
  • Quiet Cul-de-sac
  • Village Location
  • Off Street Parking
  • Garage

If you would like to arrange a viewing or would like further information concerning this house or other properties we have for sale in Hertfordshire please get in touch with Intercounty Royston on 01763 242528 or follow this link.

Source: http://www.homesandproperty.co.uk/property-news/buying/uk-house-prices-pace-of-growth-in-the-east-and-southeast-outstrips-the-capital-but-prices-are-still-a105441.html