Property Prices around Saffron Walden

 

Saffron Walden property

Saffron Walden Property

According to the latest figure from Halifax, the annual rate of house price growth has more than halved over the past 12 months to 3.8% – the lowest annual rate since May 2013.

Annual house price growth is below February’s 5.1% and less than half the 10.0% peak reached in March 2016.

But these are averaged figures across the UK – what’s been happening in Saffron Walden and surrounding area?

Well figures from Zoopla suggest that across Saffron Walden as a whole average property sold prices have risen by 7.7% in the last 12 months.

Dig a little deeper though and the story is somewhat different.

Detached property prices have only increased by 4.5% on average in the last year; Terraced properties by 4.04% and Flats by 4.55%. By far the biggest rise has been seen by Semi-detached properties at a whopping 11.44%.

Why is this?

There are more semi-detached properties in Saffron Walden than other type and the reason behind their popularity is that many semi-detached properties have been extended over the years making them as large in square-footage terms as many smaller detached properties. Yet, being semi-detached they are cheaper than a comparatively sized detached house. House prices are so high here, that many families who need the space can only afford to buy semi-detached properties and so the extra demand has pushed these prices up faster than any other category of property.

My idea is backed-up by the data for house prices in Saffron Walden over the last 6 months. ALL categories are in NEGATIVE growth territory on average EXCEPT Semi-detached which have continued to rise at a very healthy 5.64%.

If you have any questions about the local housing market within 10 miles of Saffron Walden, give me a call on 01799 668233 for a free chat about your circumstances.

Thanks

Steve Cass

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