You may have heard of the 'ripple effect' in relation to property - when the desirability levels in one location get so high that they overspill into neighbouring areas. It's a term often used in the case of London and the South East, where buyers are edged out of the capital's market and start looking in the Home Counties as a result. Now East England estate agents are caught up in the 'ripple' effect with demand spreading through its counties and lifting house prices along the way. New figures from the Land Registry reveal that the rate of house price increases in the East of England have almost reached the level of those in the South East. In fact, while the annual rate of property price growth across the whole of England slowed to 4.6% in May 2015, prices in the East of England rose 8.8% - just pipped by the South East and London, where prices rose 9.1%. The month-on-month figures from Land Registry also cast a positive light on the East of England. While the average property price across the whole of England remained virtually unchained in May 2015 when compared to April in the same year, house prices in the East of England increased by 1.6% in the same period. Properties for sale in East England also made the news as part of a report into million pound residences. When compiling a list of the number of £1 million streets by region, a property portal found that there were 1,350 addresses in the East of England where the average property price was over £1 million. The region had the third most £1 million streets out of the whole country, once again pushed down into third place by London and the South East. The same report also found that Hertfordshire estate agents are selling some of the most expensive properties in Britain. In a list of the country's top ten most expensive towns, Radlett in Hertfordshire claimed eighth spot, with an average property value of £843,814 and an annual price rise of 6.18%. Although its selling prices were cheaper than other towns in the Home Counties, Radlett had a higher rate of price growth than traditional hot spots such as Virginia Water, Cobham, Esher and Weybridge. If you would like to know more about the vibrant buying and selling market in the East of England, please contact Winkworth today.
You may have heard of the 'ripple effect' in relation to property - when the desirability levels in one location get so high that they overspill into neighbouring areas. It's a term often used in the case of London and the South East, where buyers are edged out of the capital's market and start looking in the Home Counties as a result. Now East England...
July 30, 2015
Have you got a property for sale in Hertfordshire' Are you thinking of going on to the market' If the answer is yes, now is a good time to take a long, hard look at your property, comment Hertfordshire estate agents Winkworth. A new survey has revealed what the biggest property turn offs are among buyers. Not surprisingly, dated features from a bygone era are...
June 04, 2015
Most of us know what we can do inside our home to increase its value - declutter, neutral decor, a new boiler and so on - but are you aware of environmental factors that can help your property appreciate' You may have heard of the Waitrose effect but it's not just an upmarket store that causes house prices to rise. Take Sudbury in Suffolk, for...
May 05, 2015
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