max temp: 7°C

min temp: 3°C


East of England: Fresh concerns raised over ‘huge’ rise in average property prices

19:15 25 March 2014

Average house prices rose by £12,000 in a year, from £254,000 in January 2013 to £266,000 in January 2014  the highest-ever average property value reported in the region and above the UK average of £254,000.

Average house prices rose by £12,000 in a year, from £254,000 in January 2013 to £266,000 in January 2014  the highest-ever average property value reported in the region and above the UK average of £254,000.

Archant © 2008

Fresh fears about “huge” house prices have been raised after official figures showed the average property value in the east of England has lifted to another new peak of £266,000.


Average house prices rose by £12,000 in a year, from £254,000 in January 2013 to £266,000 in January 2014 – the highest-ever average property value reported in the region and above the UK average of £254,000.

It was an annual increase of 4.7%, the Office for National Statistics research found, and marked the fastest January-to-January increase since a £17,000 upshot between 2010 and 2011.

The new figures eclipse the record average property price reported last month.

Jan Hytch, the East Anglian-based president of the National Association of Estate Agents, described the news as a “big concern”.

“More than a quarter of a million pounds for the average price of a house is a huge amount in anyone’s parlance,” she added.

“It is a blow to young people trying to get on the property ladder.

“The market needs to be controlled and the Government needs to help efforts to build more affordable housing and provide more supply.”

Nationally, housing market activity has shown strong signs of lifting over the last year amid improving consumer confidence and a flood of low-deposit mortgages.

The Government’s signature Help to Buy scheme to help people with 5% deposits was launched last year. In last week’s Budget, chancellor George Osborne confirmed plans to extend the first phase of the initiative until the end of the decade, in a move expected to increase the supply of new-build homes.

However some experts have argued the scheme has ramped up the pressure on house prices, by injecting more demand from buyers in areas where there is already a shortage of homes.

But Matthew Pointon, a property economist at Capital Economics, said the country is “a long way off the lending conditions that preceded the mid-2000s housing market boom”.



Undated handout photo issued by ITV of Kieron Dyer who has been revealed as one of the contestants for I'm A Celebrity ... Get Me Out Of Here! 2015. PRESS ASSOCIATION Photo. Issue date: Tuesday November 10, 2015. Also among the 10-strong line-up is Diana Princess of Wales biographer Lady Colin Campbell, fashion guru Susannah Constantine, Spandau Ballet's Tony Hadley, TV personality Yvette Fielding, X Factor choreographer Brian Friedman and Union J's George Shelley. See PA story SHOWBIZ Celebrity. Photo credit should read: ITV/PA Wire

NOTE TO EDITORS: This handout photo may only be used in for editorial reporting purposes for the contemporaneous illustration of events, things or the people in the image or facts mentioned in the caption. Reuse of the picture may require further permission from the copyright holder.

Kieron Dyer was given a rare night of luxury after winning a stay at the Jungle Boutique Hotel, but tensions are running high in the I’m a Celebrity Get Me Out of Here camp.

East Anglian Air Ambulance

The A134 at Assington is closed in both directions due to a serious single-vehicle crash.

Humber Doucy Lane, Ipswich.

A couple aged in their 70s were injured during a robbery at an Ipswich home.

Izzy Alder

An 18-year-old woman who failed to arrive at school today has been found.

The Lighthouse project in Ipswich is celebrating its 40th anniversary.Ali Jordan and Ursula Burrows in a meeting.

There is a collage on the wall of messages from women who have been helped by Lighthouse Women’s Aid in Ipswich, formerly known as Ipswich Women’s Aid.

The police investigation centre in Martlesham.

One woman was taken to hospital and 20 other people into police custody today after they were discovered in a lorry container.

Chancellor of the Exchequer George Osborne leaves the Treasury in London for the House of Commons, where Osborne will deliver his Autumn Statement. PRESS ASSOCIATION Photo. Picture date: Wednesday December 3, 2014. See PA story BUDGET Main. Photo credit should read: Hannah McKay/PA Wire

Chancellor George Osborne will declare a crisis in home ownership as he unveils a raft of measures he claims will see 400,000 new homes built across England.

Government cuts could make the regular inspection of our waterways harder

This Government has been very keen to talk up its “difficult choices”.

Abellio Greater Anglia has warned that the services are expected to be disrupted until 7pm.

Trains between Norwich and London Liverpool Street may be delayed by up to 40 minutes.

Christmas shoppers at Tower Ramparts - soon to become Sailmakers

When are your favourite Suffolk stores open in the days before Christmas, over the bank holidays and during the New Year period?

Most read

Most commented

Topic pages

Local business directory

Suffolk's trusted business finder

Property search

e.g. Oxford or NW3
Powered by Zoopla

Digital Edition

Read the Ipswich Star e-edition today E-edition

Great British Life

Great British Life
MyDate24 MyPhotos24