House prices continue to rise at record levels
Property Shop, the popular local estate agent with branches in Accrington and Burnley, have had 20 years experience of serving the property market. The UK property market is creating new records every month in terms of growing house prices, with unprecedented rises.
According to the latest House Price Index report by Halifax, the mortgage lenders, average UK house prices rose once again in March 2022. There was a monthly increase of 1.4 per cent, or £3,860 in cash terms for the average property - the largest increase seen since September 2021.
The report by Halifax shows that the average UK property has increased in value by £28,113 in the past 12 months, 11.0 per cent higher than the same month a year earlier. East Lancashire has shown even steeper growth, with the average sale price of property in Burnley rising by 14.8 per cent, or a £14,000 growth on average. That makes Burnley the sixth-highest among the 39 local authorities in the North West.
Even more impressive is in Hyndburn, covering Accrington and district, where property prices increased on average by a huge 19.2 per cent
Steven Chippendale, Managing Director of Property Shop, said: “This huge jump in house prices is mainly driven by the lack of properties available and the speed at which they are sold. We have buyers waiting for every kind of property, and high demand is driving prices even higher.
"If you’re even thinking about it, please do book in for a free valuation and a chat. You might be very pleasantly surprised by what your property is currently worth!”
Property Shop are the local property experts, with branches in Burnley and Accrington. Independent and family-owned with a team of 30, they run a sales, lettings and commercial agency giving them breadth and depth in the local property market. You can see more on propertyshopltd.com, check what houses are available and book in for a free valuation.