House prices soaring and number of sales in Northamptonshire on the rise

editorial image

House prices in Northamptonshire have risen by their quickest rate in the last four years according to figures released by the Land Registry.

The latest data shows that there has been a recent resurgence in the county’s housing market which estate agents say is good for for both buyers and sellers.

According to the latest figures, prices rose by 6.8 per cent in June when compared with the previous year, which is the largest year-on-year increase since July 2010.

It also continues a current trend of month-by-month house price rises which began in July last year.

Those continuous rises mean the average price for a new home in Northamptonshire stands at £144,603 – the highest figure since September 2008, when average prices stood at £146,438.

Broken down into individual house types, the latest data shows that the average county price is £240,110 for a detached home and £129,343 for a semi-detached home.

The average price for a terraced home is £103,348 and it is £83,670 for a flat.

Those average prices were recorded by the Land Registry in June, which are the most recent figures.

The overall average is £9,265 more than it was in the same month in 2013.

And the first six months of the year saw prices rise by an average of about £5,600 – with detached homes alone rising by more than £9,000.

Although the general trend appears positive the average prices are still some way off the county’s housing price peak, which was in November 2007 when the average price rose to a huge £160,406.

Simon Musto, owner of Simon Musto Estate Agents based in Sheep Street, Kettering, said the Land Registry figures bear out what he has seen first-hand in his own business.

He added: “The housing market is ever so busy at the moment.

“In fact, I would say there is a shortage of available housing stock.

“Only last week we had a property available in Hawthorn Road in Kettering which by the end of its first day on the market had sold for the full price.

“There are plenty of people out there looking for properties at the moment.”

Mr Musto said he was also optimistic about prices getting back to their peak levels sooner rather than later.

He added: “I think the market is taking small steps at the moment, but within about a year or 18 months I reckon we could see the prices getting back to the level where they were at that peak in November 2007.”