Chepstow | 01291 626262
Usk | 01291 672212
Ross-on-Wye | 01989 768484
Monmouth | 01600 713030
Newport | 01633 449884
Forest of Dean | 01594 715888
Associated Park Lane Office
0203 368 8745
At 4.8%, average annual price growth in the East of England is lower than the UK average. However, growth is currently stronger than at any point since January 2018 and considerably higher than the 1.5% fall recorded this time a year ago. Price growth across five areas currently exceeds 7.5%. Rightmove report average asking prices fell by just 0.1% month on month across the region in January, with properties selling more quickly than a year ago.
At £302,624 the average price of a property in the East of England is £13,700 more expensive than a year ago and activity across the market is robust. On average 3.6% of private properties are sold each year, with turnover in three areas 4% or more. Over 14,400 new homes were registered for sale during 2020, and nationally registrations have been on an upward trend since September.
First-time buyers were particularly affected by the closed housing market and the stricter mortgage lending that followed. However, buyer numbers have recovered steadily, with transactions just 2% lower year on year during the final six months of 2020 (UK Finance). The number of High Loan-to-Value (LTV) mortgage products has also increased, Moneyfacts reporting there were 169 products available at 90% LTV in January, over double the number available back in July. Lending rates remain low, the average mortgage rate the lowest in history.
If you would like guidance on buying or selling your home with the best agent in your area, find your local Guild Member today.
Chepstow | 01291 626262
Usk | 01291 672212
Ross-on-Wye | 01989 768484
Monmouth | 01600 713030
Newport | 01633 449884
Forest of Dean | 01594 715888
Associated Park Lane Office
0203 368 8745
We are fortunate to sell and let a huge variety of property in one of the most beautiful regions of Britain. Set within glorious unspoilt countryside straddling the English Welsh borders are picturesque villages.