Penrith Annual Housing Market Index
Highlights:
• The average price of a home in Penrith in 2008 currently stands at £188,145* - up 12.6% on figures recorded by Land Registry at the end of 2007
• The average price of a home in Penrith at the end of 2007 was £167,074, showing an annual increase of 2.3% since 2006 - up from £163,306
• Semi-detached and terraced homes consistently dominate the housing mix in
Penrith, accounting for over 60% of all property sales in 2007 and 58% so far in 2008
• Detached homes lead the way for price growth in Penrith, recording a 2.9% rise between 2006 and 2007 and a 11.3% increase so far in 2008
• All property types in Penrith recorded positive price growth in 2007 and 2008 so far
House prices:
The Penrith property market has remained robust with the average house price increasing by 12.6% so far in 2008, by 2.3% between 2006 and 2007, and by over 164 % since 2000.
Sales surged in Penrith in 2007, up 20% on the previous year, but the market has slowed this year, reflected in a significant decrease in homes for sale.
Summary
The Penrith property market has remained extremely robust so far in 2008, with an increase of 12.6% in the average home price from the end of 2007, and strong year-on-year growth since 2000 (164%).
Terraced and semi-detached homes dominate the property mix in Penrith, comprising the majority of sales, and have recorded positive price growth year-on-year since 2000.Apartments recorded their strongest ever year in 2007, accounting for over 20% of all sales and recording the second highest price increase.
All property types recorded strong price growth in 2007. Low availability, matched against a high demand for homes in the area, has seen this continue into 2008. This has been led by detached homes, where the average price increased 2.9% between 2006 and 2007 and by 11.3% so far in 2008.
Download the pdf document to view detailed illustrations of the Chichester housing market
-- Ends --
copyright © Trinity Mirror Digital Property Ltd
|
Network
