House prices in Lincolnshire hit a six-year high – and more homes are being sold
04-21-2015
The average property price in Lincolnshire has reached £130,163The housing market in Lincolnshire is showing further signs of recovery with the average price of a property topping £130,000 for the first time in more than six years.
The cost of a home was last at that level in the county in November 2008 as prices tumbled following the global financial crisis which hit during that year.
New figures from the Land Registry reveal that house prices here have climbed steadily for two-and-a-half years from a low point of point of £119,000 in November 2012.
By February 2015, the most recent figures available, an average property in Lincolnshire had reached £130,163. In the last year, the price of a Lincolnshire home has risen 4.3 per cent, according to the government agency.
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The number of homes being sold has also recovered dramatically.
In 2008, 9,416 homes were sold in Lincolnshire compared to 13,497 last year – an increase of 43 per cent.
The house price in Lincolnshire is driven towns like Grantham, which benefits from fast train services to London. Grantham is top of a national commuter survey as the country's most affordable place to live within a 60-90 minute rail journey time from London.
The average property price is currently £146,397. The most expensive place in the same 60-90 minute travel bracket was Shawford in Hampshire, where the average property price is £489,990.
Janie O'Shea, residential sales at Fine and Country Grantham office, told The Echo's sister paper, the Grantham Target, last week: "People are missing a trick if they don't know about it. We are an hour and ten from London Kings Cross, parking is good and the station guards are very old-school and friendly.
"You are getting so much more for your money in and around Grantham compared to the south east or London on a square foot basis. This triangle we sit in between Stamford, Sleaford and Grantham is so pretty and something to rave about. It's a hidden gem. "
And Steve Ingram, South Kesteven District Council strategic director for development and growth said: "This re-enforces the fact that South Kesteven is within easy reach of London and acts as the gateway to the rest of Lincolnshire with an affordable local housing market and a very high quality of life.
"Clearly there are not many easy-to-reach places that offer such an attractive combination."