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House prices on the rise

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The Chattertons Construction & Property sector team reports a 10% increase on the average house price in England over the previous year. The average house price now stands at £280k, however the figures include Greater London which has seen the greatest annual change making the average house price £600k.

A more regional snapshot shows Lincolnshire below the national average with the County average house price at £179k, an increase of 4.14% on last year.

With offices throughout Lincolnshire in addition to offices in Newark and London, Chattertons real estate team report the following average price paid for a home in the following locations:

Boston:            £157,170

Grantham:       £188,425

Horncastle:      £181,078

Lincoln:            £178,629

London:           £592,938

Newark:          £185,708

Sleaford:         £178,030

Spalding:         £170,874

Stamford:        £281,131

The above information has been taken from 86,718 houses sold over the previous year, however the Royal Institution of Chartered Surveyors has predicted a short-term drop in property values since 2012 as buyer demand falls coupled with uncertainty caused by the EU referendum.