Cambs: House prices holding up in Hunts
HOUSE prices in Huntingdonshire are holding up, in spite of some surveyors’ reporting falls across East Anglia.
The Royal Institution of Chartered Surveyors (RICS) said around half of its members saw no change in prices in the three months to July, with 20 per cent reporting increases and 30 per cent saying they had dropped.
Seasonally adjusted, that showed seven per cent reporting a fall in prices across the region, RICS said.
That is not our experience, estate agent Peter Lane told The Hunts Post. “Since this time last year, there has definitely been an increase, though activity tailed off a bit.”
If you include June in any figures, there was bound to be a distortion, he added. It was a bad month for all in the housing sector, with people more interested in the World Cup, Wimbledon or waiting to see what would be included in the emergency Budget and what would happen to interest rates.
“It was just one of those months when people were doing other things,” Mr Lane said. “Then we got into July and it picked up again. August has started off quite busy, though it’s usually one of our quietest months.
“Overall, I would say prices are fairly static.”
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Simon Bradbury, from Thomas Morris, described the market as “stuttering”, and said it should not be judged over a short time-span.
“I can’t call exactly which way it’s going to go. There’s an increase in supply, but not enough buyers. That’s the root of it.
“I still think people should look at property as a place to live, rathern as an investment. Perhaps people are starting to understand that.”
There are similar views of the market elsewhere in the area.
John Pocock, of Pocock and Shaw in Cambridge, said: “There is undoubtedly a fall in demand and a distinct mood change in the market. The problems previously experienced with a lack of buyers at the bottom end of the market seem to be spreading to the next range, and prices have certainly stopped rising.”
Michael Pemberton, of Martin and Mortimer in St Ives, said: “After a very active four to five months, there are signs of slowing. It is unclear at this stage whether this is market-led or whether a return to traditional summer lull is being experienced.”