House prices static
HOUSE prices in East Anglia remained static last month, new figures have revealed. A survey published by Hometrack reported a 0% change in house prices in the region in June – in line with the national average.
HOUSE prices in East Anglia remained static last month, new figures have revealed.
A survey published by Hometrack reported a 0% change in house prices in the region in June – in line with the national average.
The average price of a home in East Anglia is £118,200, with Suffolk's average house price remaining at £108,300.
In East Anglia, Norfolk is reported as the only area to show any price change – a drop of –0.1%.
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A spokesman for Hometrack said: "The market is unchanged in the last month. Clearly supply has continued to increase month on month and new buyers do not seem to be coming on to the market.
"The increase in supply is not causing any erosion in prices. The down side in these times is turnover slows down which is a bit of a challenge for the market.
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"We do not really see prices in East Anglia dropping. We think it will bump along as it is doing.
"There are no major changes in the market place for the next three to six months."
Estate agents Colin Girling & Co in Ipswich described the situation as a "buyers market".
"Vendors are finding that if they are too greedy on the asking price, they are not getting the viewers," a spokesman said.
"Those that are realistic and are prepared to accept an offer are selling."
Fenn Wright estate agents in Ipswich said it had experienced a "superb May" with vendors being sensible on pricing which has resulted in quick sales.
The survey reports a 0.8% increase in the number of new buyers in East Anglia while the number of new properties listed increased by 4.6%.