Burnham-on-Sea named as a top property hotspot after 2017 growth
PUBLISHED: 08:00 11 January 2018 | UPDATED: 14:51 11 January 2018
Burnham-on-Sea has been named as one of the top growth hotspots in the country after the average house asking price increased by nearly 10 per cent in 2017.
The seaside town came fourth in a national table, which excluded London, as the average asking price for a property rose from £213,908 in 2016 to £235,083 last year, an increase of 9.9 per cent.
Sudbury, in Suffolk, Sowery Bridge, in West Yorkshire and Kendal, in Cumbria, are the only locations which has seen a greater price growth.
All places in the top 10 saw asking price growth of more than nine per cent in 2017, yet they all fell below the national average of £302,865, with the cheapest being West Bromwich, in the West Midlands, where asking prices are currently £149,360, up 9.5 per cent on this time last year.
A study conducted by real estate and property company Rightmove also found that Bristol was the most popular area for both buying and renting searches outside of London.
Burnham’s location to nearby cities has made it a more desirable place to live.
Rightmove director Miles Shipside said: “Although prices have grown at a muted rate of 1.2 per cent nationally this year, there are a number of local markets where strong demand and short supply has led to strong price rises, especially in areas where homes are relatively more affordable than some of their nearby cities.
“Many locations on this list have certainly benefitted from a ‘ripple out’ effect where buyers look for more for their money away from climbing city house prices.”
Burnham based estate agents Gary Berryman’s, in High Street, has noticed the town’s house prices surge, agreeing sales on £1million worth of property between December 27-30.
The estate agent’s sales negotiator Alex Ashworth said: “This time of year is usually quiet for us, but we have been inundated with sales and interest in our listed properties.
“It is great to see the prices in Burnham increase in the current market and outperform many other areas across the country.
“The town fully deserves this because it is a great place to live and its location to other major cities has no doubt made it a more desirable option for buyers.”
Burnham and Highbridge town councillor Louise Parkin added: “It is a great story for the town.”