East of England most optimistic over price increases
By |Published On: 5th June 2015|

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East of England most optimistic over price increases

By |Published On: 5th June 2015|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

Homeowners in the east of England have been crowned the most optimistic in the UK, when it comes to gauging confidence in house market prices.

A study from Markit Economics suggests that 80% of households believe house prices will increase in the region over the next twelve months.

Optimism and beauty

Alongside bristling market confidence, the east of England boasts some of the most picturesque regions in the country. One of these is Cambridge, which has recently emerged as a leading player in the property market, with average values up 6.17% during the last year to stand at £395,404.[1]

The city’s University, nightlife and good shopping outlets make it a desirable location for a number of students and professionals.

Sarah Bush, manager of Leaders’ estate agents, believes that shortage in supply, coupled with people coming into the city for work, keeps prices at a high level. However, this is having a detrimental effect on local first-time buyers, with Bush stating that the, ‘ripple effect is pushing them further and further out of the city.’[2]

East of England most optimistic over price increases

East of England most optimistic over price increases

Seaside searching

Of course, the east of England also provides some of the most sought after coastal towns in the UK. The prices recorded in the town of Southwold in Suffolk recorded a 2.02% rise in the last year, where average values of homes now stand at £387,866.[3]

Roseanne Green, who is office manager of Durrants estate agents, feels that buyers are wanting a period cottage, which would set them back around £400,00 for two bedrooms. She also feels that the strong levels of activity in the capital will help the region. Green believes that, ‘London’s market is continuing to rise and that endorse the market here. We have also seen a sharp increase in second home buyers from Essex, Hertfordshire and Norwich.’[4]

Wendy Barritt, director of Nicholsons Sales and Lettings, feels that many people are, ‘coming out of London because the prices have gone so high.’ She added that people can, ‘sell a two bedroom flat there and buy a three to four bedroom house here.’[5]

[1] http://www.zoopla.co.uk/discover/property-news/which-city-has-emerged-as-a-major-player-in-britain-s-property-market/?utm_content=buffer3fa5d&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer#XWJkaC62aFdSfmUe.97



About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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