Colchester: House prices rose in 2012

Gazette: For Sale: House prices are on the rise in Colchester For Sale: House prices are on the rise in Colchester

HOUSE prices in Colchester have increased more sharply than in other parts of the county, latest figures suggest.


The average house price in 2012 was £199,494, an increase of 4.2 per cent upon the previous year.


The figure is based on the cost of a three-bedroom, detached house, with last year’s average price said to be £191,382.


Mortgage lender Halifax, which released the figures, said across Essex average house prices were up by 2.1 per cent.


Southend experienced the biggest house price rise of any town or city during 2012.


Prices there rose by 15 per cent, compared with a 1 per cent average fall across the UK as a whole.
 

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8:09pm Thu 27 Dec 12

Boris says...

Very sad news. Who can afford these prices? Only buy-to-let landlords.
Very sad news. Who can afford these prices? Only buy-to-let landlords. Boris
  • Score: 0

11:35pm Thu 27 Dec 12

CJ1989 says...

Ohhhh dear, it's all going to end in tears... (again)

Property is overpriced, by a big margin. To correct it quickly would financially ruin huge numbers of homeowners and bankrupt most lenders.

If successive governments are going to insist on meddling with the market, they should be aiming to gradually reduce prices by a percent or two every year for the next 15-20 years.

They were moving in the right direction with tougher lending rules, but more policies keep appearing to keep prices at artificially high levels.

How any sane politician can look at the situation and think that government-backed 95% mortgages are a solution, rather than part of the problem is beyond me.
Ohhhh dear, it's all going to end in tears... (again) Property is overpriced, by a big margin. To correct it quickly would financially ruin huge numbers of homeowners and bankrupt most lenders. If successive governments are going to insist on meddling with the market, they should be aiming to gradually reduce prices by a percent or two every year for the next 15-20 years. They were moving in the right direction with tougher lending rules, but more policies keep appearing to keep prices at artificially high levels. How any sane politician can look at the situation and think that government-backed 95% mortgages are a solution, rather than part of the problem is beyond me. CJ1989
  • Score: 0

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