House prices on the rise again

PUBLISHED: 12:30 23 September 2013

House prices in Weston are not rising as fast as rest of UK

House prices in Weston are not rising as fast as rest of UK

Archant

HOUSE prices in Weston are once again on the rise, but not as fast as the UK average.

This could indicate the town’s economy is not recovering as fast as the rest of the country.

According to the Office for National Statistics, house prices in the UK increased by 3.1 per cent between June 2012-13.

But Zoopla statistics show the rise in Weston is much slower, at just 1.06 per cent in a year. Prices in the wider Somerset region have risen by 1.56 per cent annually.

Despite the slow rise, some estate agents are pleased with the progress being made.

Director of Weston-based estate agents Bloxham and Barlow, Chris Bloxham, said: “Weston traditionally doesn’t mirror the national trends we see with house prices. The lower end of the market, especially two-beds, are moving.

“So actually we are getting there, it just sometimes take a little while longer. Over the past few months we have had lots of valuations, so there is lots more positivity out there.

“We have been really busy, so as long as it continues, as long as vendors are being competitive, we might get the recovery we hope for.

“Although it might not be as extravagant as the rest of the country, Weston does tend to be different.”

The average house price in Weston is £200,000 and the average rent stands at £701 per calendar month.

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