Figures reveal house prices revival in Corby

The Priors Hall housing development
The Priors Hall housing development

Property owners in Corby are feeling more confident about putting their house on the market.

The increase in activity comes after the latest report from the Land Registry of England and Wales which shows that house prices in the town rose by seven per cent in 2012, making the average property worth £141,604.

A typical detached house in Corby now costs £203,718, a semi-detached property £122,799, a terraced house £98,956 and a flat £75,765.

Tracy Jackson, residential sales manager with Yates Walker estate agents in the town, said demand for properties on Oakley Vale, the Lloyds, Shire and Beanfield estates, as well as villages in the Corby area, is increasing.

She said: “As demand increases it means prices start to rise. People are starting to have more confidence and are feeling more secure in their jobs. There is renewed optimism in the town.

“We are seeing more first-time buyers and more investment buyers. There is a demand for two and three-bedroom, modern semi-detached properties.

“First-time buyers have been struggling to raise 10 per cent deposit. The Help To Buy schemes which were announced in the Budget last month to help people with that will also boost the market.”

Residential sales manager at Connells estate agents in the town Matthew Hill agreed that Corby’s housing market is particularly buoyant.

He said: “It is very positive, prices are increasing and we are seeing a huge demand for two and three-bedroom properties in particular.

“The market is very good and people are realising now is a good time to sell. We have seen a 25 per cent increase in valuations compared with this time last year.

“People had been putting big financial decisions on hold because of the credit crunch, but they are starting to outgrow their homes and there are some very good mortgage deals available now.”

Following the successful Colyers Gardens development on the Kingswood estate, which included 154 properties and the first council homes to be built in Corby for 40 years, plans are in the pipeline for the next phase.

A total of 43 flats in Canada Square are to be demolished early next year to make way for between 45 and 60 family and mix tenure homes.

Corby Council is consulting with residents and working with developers on the plans, which will include 11 council homes and at least five affordable ownership houses.