Clevedon House prices soar in 2017

PUBLISHED: 08:00 03 January 2018

Hill Road in Clevedon.

Hill Road in Clevedon.

Archant

House prices in Clevedon grew more than any other town in the UK in 2017, according to a leading property website.

The cost of buying a home in Clevedon has risen by 11.6 per cent over the past 12 months, with the average price now standing at £334,225.

Steven Smith from Steven Smith Town and Country Estate Agents, based in The Triangle, believes much is down to the ‘prestigious’ housing development at Clevedon Hall and the fact many high value homes in the sought after Hillside area are rarely on the market, meaning buyers will are forced to pay larger fees.

Mr Smith added: “These increases in value are very patchy.

“Yes some have made considerable ground but others have not – depending as usual on the demand at that time.

“The influx of prestigious new homes will also distort the figures greatly.

“Clevedon deserves to be recognised as a lovely place to live and it is no surprise to many of us that values reflect this.

“Recent reports of substantial increases do not always give a true picture though and will be distorted at times when a unique development is launched.”

Nationally the British property market is now valued at £8.29trillion – a rise of £280billion since January – which equates to the price of an average home increasing by almost £30 every day.

In contrast, Leigh in Greater Manchester has seen property prices fall by an average of 4.61 per cent in 2017 but the overall picture across the country has sparked concern for the prospects of first-time buyers.

A Zoopla spokesman said: “2017 has been an unpredictable and varied year for the British property market with continued uncertainty surrounding Brexit, the triggering of Article 50 in March and a hard-fought General Election in June.

“However, the price of housing has proved its resilience in the face of political ambiguity, finishing the year with a solid 3.5 per cent rise – though down year-on-year from the 7.25 per cent growth rate seen in 2016.

“Though good news for homeowners, this continued growth does pose ongoing affordability challenges to those trying to get their foot on the first rung of the property ladder.”


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