First quarter 2005
Property
Hotspots in EAST ANGLIA
Prices shown in the tables below
are arithmetic average prices of houses on which an offer of mortgage has been granted.
These prices can be affected by changes in the sample from quarter to quarter. Towns & Counties in red are current property hotspots
|
TOWN
|
AVERAGE HOUSE
PRICE - £
2004*
|
AVERAGE HOUSE
PRICE - £
2005*
|
%
CHANGE
|
|
Bury-St-Edmunds
|
195,084
|
192,271
|
-1%
|
|
Cambridge
|
228,467
|
230,394
|
1%
|
|
Dereham
|
127,204
|
154,365
|
21%
|
|
Diss
|
173,578
|
205,390
|
18%
|
|
Ely
|
170,417
|
197,636
|
16%
|
|
Great-Yarmouth
|
121,444
|
132,249
|
9%
|
|
Haverhill
|
150,382
|
163,565
|
9%
|
|
Huntingdon
|
184,257
|
197,347
|
7%
|
|
Ipswich
|
155,489
|
182,222
|
17%
|
|
King's-Lynn
|
144,858
|
164,678
|
14%
|
|
Lowestoft
|
119,564
|
134,124
|
12%
|
|
Newmarket
|
177,553
|
228,121
|
28%
|
|
Norwich
|
155,362
|
176,459
|
14%
|
|
Peterborough
|
137,601
|
151,246
|
10%
|
|
St-Neots
|
175,803
|
185,504
|
6%
|
|
Stowmarket
|
169,233
|
199,216
|
18%
|
|
Sudbury
|
176,114
|
187,746
|
7%
|
|
Thetford
|
143,067
|
160,986
|
13%
|
|
Wisbech
|
135,396
|
149,374
|
10%
|
|
Woodbridge
|
198,958
|
245,185
|
23%
|
|
COUNTY
|
AVERAGE HOUSE
PRICE - £
2004*
|
AVERAGE HOUSE
PRICE - £
2005*
|
%
CHANGE
|
|
Cambridgeshire
|
168,296
|
179,195
|
6%
|
|
Norfolk
|
149,126
|
169,452
|
14%
|
|
Suffolk
|
160,935
|
188,305
|
17%
|
Here you will find a general overview of the area
"The housing market is now slowing in East Anglia. House prices fell marginally in the first quarter and
over the past year have risen by 8.4%, below the UK average, and also lower than growth rates seen in 2004.
Despite the market slowdown there are pockets of strong growth. Newmarket, Woodbridge and Dereham have also seen an
increase in house prices of more than 20% over the past year."
"East Anglia experienced
annual house price growth (8.4%) just below the UK average (9.7%).
Woodbridge remains a strong performer. Not only does it have the highest average
house prices in the region at £245,185, but it also recorded the second strongest annual house price growth at 23%. Woodbridge
benefits from picturesque views of the countryside and the River Deben, as well as benefiting from strong transportation
links to Ipswich.
Newmarket recorded the strongest house price growth in the region, 28%, and its
house prices are amongst the highest in the region at £228,121. Newmarket is situated equidistance from Cambridge
and Bury St Edmunds and benefits from strong transportation links to both. The overspill from the Cambridge housing
market continues to feed growth in Newmarket. Prices in both locations
are now very similar.
House price growth
in Cambridge has slowed to an annual rate of 1%, although the average house price (£230,394) is still well above the
UK and regional average.
Norwich also experienced higher than average annual house price growth at 14%. The average house price in the city is now £176,459.
One, two and three bedroom flats, as well as two bedroom terraces are proving popular with first time buyers. New developments in the housing market are clustered around the northern distributor
road.
The average house
price in Diss has broken through the £200,000 barrier, with the average house price now standing at £205,390. Annual house price growth in the town is currently 18%, one of the stronger
growth rates in the region. Diss has good transport links and benefits from a train line into locations such as Norwich.
Properties within
the London commuter belt remain in demand although the cooling London market is likely to inhibit house price growth in the
area. A number of towns have new developments planned or underway and those situated
along the M11 corridor will hopefully benefit from the regional development agency's jobs growth strategy.
At a county level
Suffolk experienced the largest annual growth in house prices at 17%. In contrast Cambridgeshire experienced
smaller annual house price growth of 6%."
|
