House prices in south Essex have gone through the roof - with some homes earning nearly as much in a year as their owners.

For the first time, the average price of a three-bedroom semi in the county has smashed through the £100,000 barrier, a survey today revealed.

The average price of a house in Essex leapt from £89,542 in December 1998 to £102,963 by last December, marking a rise of nearly 15 per cent.

The Land Registry survey, which covers England and Wales, suggests there is an exodus of young and talented people from the north of England to the south which is having a dramatic effect on the housing market.

Homes in Southend rose by 13.8 per cent from the average of £70,186 to £79,879 and in Thurrock from £68,940 to £75,712. While some can feel pleased at the increased worth of their home, Fulham and Hammersmith homeowners had the biggest cause for celebration as their plush padsearned a staggering £1,243 a week. In just one year, the average West London house went from £64,637 to £251,866.

Ross Norman-Clarke of Benfleet estate agent John Fisk said the rises in this area could be put down to a number of factors.

He said: "You've got a lot of young City workers who are moving to places like Leigh, seen as trendy and desirable. That pushes up prices. Also, Essex, despite people's complaints, has good links direct to the financial centre of London."

Mr Norman-Clarke said the main cause of the boom in the south was the shortage of supply - fewer houses are being built and fewer people are moving home.

He said: "But house prices are still nowhere near what they were. In the early 80s house prices went up dramatically. We estimate a ten per cent rise from now to January 2001.

"But we will continue to see hot and cold spots."

But first-time buyers who have yet to get onto the first rung of the ladder will be left hunting huge mortgages in an overheated market.

Mr Norman-Clarke said: "Local people on local salaries are finding it hard to get on the bottom rung."

Converted for the new archive on 19 November 2001. Some images and formatting may have been lost in the conversion.