Tuesday, 22 August 2017

Midlands property boom

OK – we’re talking property prices again. But when you see a headline like “House prices: Northants leads Midlands 'mini-boom', says Rightmove” you have to take a look, don’t you?

Acccording to a report in The Guardian newspaper, property website Rightmove says that buyers priced out of London are snapping up cheaper homes across the middle of England in locations with good commuting links.

Larkfleet has new homes for sale in Corby

Larkfleet is building in Corby, Northamptonshire, as well as
other Midlands 'property hotspots' identified by Rightmove.

The paper quotes Rightmove as saying that asking prices in Northamptonshire have jumped by 9.1 per cent in the past year.

Apparently locations across the middle of England, not just Northamptonshire, are experiencing a ‘mini-boom’. Counties singled out for comment include Norfolk (where prices are up 7.4 per cent on last year) and Nottinghamshire (7.0 per cent).

Despite these rises, prices in these counties remain much lower than in London where, although the rise over the past year was only 1.6 per cent, the average asking price for a home is more than £629,000.

So, what does it all mean for Larkfleet home buyers? Well, rising prices is good news, we guess, if you already have a house on our latest developments in places such as Corby in Northamptonshire. And maybe they are a bit of a ‘wake-up call’ if you haven’t yet bought.

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