It’s a Great Time to Sell as East Anglia Enjoys Fastest House Prices Rises in UK
If you live in East Anglia, or are thinking of moving to the region, you’ll know just how much this eastern corner of the UK has going for it. Beautiful beaches, historic towns and villages, stunning countryside and proximity to London have made East Anglia increasingly popular with both buyers and investors throughout the country, with property prices in the region rising steadily across the board.
These rapidly increasing price tags make now the perfect time to sell your East Anglia property. Demand is outstripping supply and buyers are queuing up to get their very own slice of the East Anglian pie.
House price predictions
In December 2015, The Royal Institution of Chartered Surveyors released their property price predictions for the coming year. The insight their report offered got investors very excited about homes in the UK’s property hotspots, with no region showing more potential for property profit than East Anglia. According to the predictions from RICS, prices in East Anglia would rise by a huge 8% in 2016. This was compared to 7% in the South East, 4% in Scotland, 5% in the South West and 5% in London.
This left East Anglia at the top of the leader board when it came to property price increases. As a result a number of investors began moving into the area and the value of local properties began to rise.
The East Anglia housing market 2016
In reality, house prices in many parts of the region outstripped the predictions of even The Royal Institution of Chartered Surveyors. Government statistics showed that by April, house prices in Suffolk Coastal reached £261,177, 10.6% up on the previous year. In Babergh and St Edmundsbury prices increased by an impressive 9.1% to take the cost of the average property above £250,000. Prices also rose in Essex where the average property value increased from £244,612 in April 2015 to £274,692 in April 2016, a jump of 12.3%.
The future market
According to estate agent Savills house prices in East Anglia are set to go up even further in the coming years. By 2021 they predict prices in East Anglia will have risen 19% to £324,000, again ahead of London (11%), the South East (17%), Scotland (9%) and the South West (14%). In fact, prices in East Anglia are set to rise faster than anywhere else in the country in the next five years, something that’s great news for homeowners in the region looking to sell.
If you’re thinking about putting your East Anglia home on the market, we can help. Get in touch with a member of our team today to find out more.« Back to Latest Monthly News