House prices to soar says Exeter agent
06-09-2015
It claims the summer could recent price increases continue with a strong demand for property in the city fuelling the local market.
With the general election over, haart estate agents, which has a branch in Exeter’s Paris Street, is predicting demand for property in the area to increase.
And that will create the potential for a sharp rise in prices.
Latest figures from haart’s monthly Property Index show that there’s already demand for homes in the city.
It reveals that there are currently an average of nine buyers for each property on the books of its Paris Street branch.
In turn, the average price of property sold by the branch has increased by 5.8 per cent to £179,140 over the last quarter to the end of April.
Exeter haart branch manager Kyra Daniel, said property in Exeter is increasingly sought after, leading to rising prices.
She said: “Demand is already high in the area and now the election is over, we expect to see it continue to increase and subsequently drive prices up further.
“Those looking to sell property and move up the ladder in Exeter should see the price of their property go up as demand grows.”
According to haart’s Property Index, the average price of all property sold through its seven branches in the South West – Exeter, Bedminster, Fishponds, Plymouth, Shirehampton, Taunton, Weston-super-Mare – was £181,916, an increase of 3.51 per cent over the last quarter.
Data is based on haart’s branch statistics for February 2015 to April 2015, compared to the previous quarter, November 2014 to January 2015.
Haart is part of Spicerhaart, the UK’s largest independent estate agency group, with 134 branches across the UK.
Estate agents in the city recent revealed a boom in the buy to let market in Exeter.
It is being boosted in part by strong demand for quality rented homes from young professionals drawn to the city.
House prices in Exeter are among the highest in the county and across the South West, due in part to its recent economic success and its desirable location.
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