Hunts housing market performing better than rest of East Anglia
THE Huntingdonshire housing market is performing much better than the rest of East Anglia, new figures have shown.
A report into house prices between July and September last year by the Land Registry shows the average house price in the district is �210,913, an annual rise of 4.6 per cent compared to a 0.5 per cent rise in East Anglia and 3.5 per cent increase in the UK.
More than 600 homes in Huntingdonshire were sold in the three months, more than any other part of Cambridgeshire, making up nearly a third of all purchases in the county.
The district’s average house price is fourth highest in the county - above Fenland - but flat and detached home prices were third highest, above East Cambridgeshire and Fenland, with detached houses, with an average price of �280,507, proving most popular with the highest volume of sales in Huntingdonshire.
The highest increase in house prices on last year’s figures was in terraced homes, with a nine per cent rise to �154,651, with flat prices seeing a small decline of 1.1 per cent to �113,821.
Simon Bradbury, Thomas Morris and Fine & Country partner based in St Neots, said the market was promising and would continue to be stable for 2013.
“I think that it’s going to be a steady year as it has been in 2012 with house prices staying roughly the same,” he told The Hunts Post.
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“I don’t think there will be more than a two per cent rise or fall this year which is good for the market as people can plan when they want to buy as they will have the confidence to know that prices will be the same in six months time.
“A rise in house prices isn’t necessarily a good thing as it prices new home buyers out of the market and this is where we see the biggest hindrance in home buying.
“Banks are still limited in what they lend and first time buyers have to find a 25 per cent deposit to get the best rates which is were the bank of mum and dad comes in, lending or giving their offspring the money.”
He added that the volume of homes sold in Huntingdonshire could be due to number of new homes being built in the area.